Wed. Feb 21st, 2024

Andrey Melnichenko.Mikhail Svetlov/Getty Pictures

Considered one of Russia’s richest males, Andrey Melnichenko, mentioned the Ukraine conflict had made him a “pariah.”

Melnichenko now lives within the UAE, the place his $300 million Motor Yacht A is moored.

His $578 million Crusing Yacht A was seized by Italian authorities shortly after he was sanctioned.

Considered one of Russia’s richest people mentioned he’d grow to be a “pariah” within the United Arab Emirates the place he fled after being sanctioned.

In an in depth interview with the Monetary Instances, Andrey Melnichenko decried the consequences of Russia’s invasion of Ukraine on his private life, whereas additionally saying there have been “conflict crimes from either side” within the battle.

Melnichenko was sanctioned in March final yr after attending a roundtable of Russian enterprise figures hosted by Vladimir Putin in February.

The businessman, who made his cash from coal and fertilizers, beforehand mentioned that he solely discovered he had been sanctioned when he examine it within the information.

“I do not make weapons for the conflict. I make meals for folks and power for energy stations all around the world. I do not promote the conflict. I am not concerned in politics. What is the level?” Melnichenko informed the FT.

Melnichenko berthed his $300 million Motor Yacht A within the UAE final yr. His $578 million Crusing Yacht A was seized by Italian authorities shortly after he was sanctioned.

His internet price greater than doubled to about $25 billion after the invasion and subsequent sanctions on Russia pressured a spike in fertilizer costs, per Forbes.

Sanctions in opposition to Russian oligarchs have modified the lives of a number of influential billionaires who beforehand spent a lot of their time within the West.

Former Chelsea FC proprietor Roman Abramovich, for instance, was pressured to promote the membership and now resides in Israel, per Le Monde.

Oligarchs had a collective $95 billion wiped off their internet price final yr, in line with Guardian evaluation of Bloomberg Billionaires Index information.

Final week, the FT reported that tech billionaire Arkady Volozh had appealed sanctions positioned on him by the EU, simply days after he first criticized the conflict.

Oleg Tinkov managed to get sanctions in opposition to him within the UK lifted after slamming Putin’s invasion of Ukraine and getting the backing of British enterprise tycoon Richard Branson.

Learn the unique article on Enterprise Insider

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