Russian billionaire Melnichenko appeals Swiss sanctions
Russian billionaire Andrey Melnichenko has launched a court bid to remove him from a Swiss list of sanctioned Russian oligarchs.
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Russian billionaire Melnichenko appeals Swiss sanctions
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Melnichenko made his demand at a public hearing at the Federal Administrative Court. The Swiss economics ministry opposes the move, arguing that it would violate Switzerland’s responsibilities under international law.
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In an extraordinary session in February 2022, the Swiss government decided to adopt European Union sanctions against Russia. This was in response to Russia’s attack on Ukraine. Subsequently, Switzerland froze the assets of almost 2,000 individuals allegedly linked to the Russian government – assets totaling over CHF7 billion.
However, two sanctioned individuals are fighting back by lodging appeals with the Federal Administrative Court. The public hearing took place on Wednesday, during which the identities of the two appellants were revealed. They are Russian businessman and investor Andry Melnichinko and his wife Aleksandra.
Andrey Melnichinko has a stake in the fertilizer manufacturer Eurochem, among other companies, and his personal fortune is estimated at almost $20 billion.
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The lawyer for Melnichenko and his wife stated in court today that his clients were wrongly included on the EU sanctions list adopted by Switzerland. Melnichenko maintains no ties to the Russian government and has no influence on military actions in Ukraine. On the contrary, he has repeatedly condemned the war.
The couple and their two children had not lived in Russia since 2005 and had moved their residence to St Moritz. However, they had been forced to leave due to the sanctions, the lawyer added.
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Oligarch Melnichenko ‘may be forced to leave Switzerland’: media report
Adapted from German by AI/mga
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