European Commission adds EuroChem’s Aleksandra Melnichenko to sanctions list

LONDON (ICIS)–The European Commission has added Aleksandra Melnichenko, who lawmakers claim is the current chief beneficiary of the business that owns fertilizers major EuroChem, to its list of sanctioned individuals.

Melnichenko is the wife of billionaire Andrey Melnichenko, who ceded control of EuroChem to her after resigning as non-executive member of the board and chief beneficiary of the business on 9 March.

Aleksandra Melnichenko is currently the beneficial owner of Firstline Trust, which is managed by Linetrust PTC, the business with ultimate control of the EuroChem Group, according to the EU’s executive body.

“[Aleksandra Melnichenko] is associated with a leading businessperson involved in economic sectors providing a substantial source of revenue to the government of the Russian Federation,” the European Commission said.

Belarusian Potash Company (BPC) and Belaruskali were also named as sanctioned entities last week.

The latest sanctions against company management follow a decision by the Belgian government to allow the restart of a EuroChem site in the country, based on perceptions that Andrey Melnichenko stepping down from his positions tied to the business meant that the company would no longer be subject to EU sanctions.

The sanctions represent the latest strike against Russia’s fertilizer sector, which the European Commission regards as strategically important to the country.

Other names on the sanctions lists include Andrey A Guryev and Dmitry Mazepin, who stood as CEO of PhosAgro, and chief of Uralchem and owner of Uralkali, respectively, when the measures were announced in March.