Russian billionaire Andrey Melnichenko received UAE citizenship. After falling under European sanctions, the businessman and his family settled in one of the emirates
Andrey Melnichenko, the founder of EuroChem and SUEK, became a UAE citizen in 2021. This was reported to Forbes by his representative.
He said that in January 2021, the UAE government contributed amendments to the law on citizenship and passports, allowing investors, professionals, scientists and intellectuals to obtain citizenship of the Emirates. “To Andrey Melnichenko [с предложением получить гражданство. — Forbes] the authorities of the Emirates turned, and he gratefully agreed, becoming a citizen of the UAE in 2021, ”said the representative of the billionaire.
A source familiar with the situation clarified that since the imposition of sanctions, Melnichenko and his family have been living in the emirate of Ras Al Khaimah. The businessman retains Russian citizenship.
Melnichenko in early March hit under EU sanctions. One of the reasons for the introduction of these sanctions, the EU called the presence of a businessman at a meeting with President Vladimir Putin. “Melnichenko belongs to the most influential circle of Russian entrepreneurs with close ties to the Russian authorities,” the EU pointed out in the justification for the sanctions. In mid-March, sanctions against a businessman introduced Great Britain. Switzerland has also enforced EU sanctions against the businessman.
Melnichenko himself convincedthat the sanctions imposed against him are “absurd and groundless”, and that the “conflict between fraternal peoples” must be stopped. In May he filed action to challenge the sanctions.
After the imposition of sanctions Melnichenko stopped be a beneficiary of SUEK and EuroChem and a member of the board of directors and a non-executive director in both companies. His shares in the trust through which he owned the companies were transferred to his wife Alexandra. In early June, the EU also imposed sanctions against her, she intends get them overturned in court.
Melnichenko himself in an interview with the Swiss Die Weltwoche told, that before the imposition of sanctions for 15 years he lived in Switzerland, in the city of St. Moritz. Initially, the businessman and his wife, former Serbian model Alexandra Melnichenko, rented housing there, but then built their own house. EuroChem is headquartered in Zug, Switzerland.
