Russian yachts and money going where U.S. influence has waned
Andrey Melnichenko was in a bind. Squeezed by European sanctions targeting Russian billionaires, one of Russia’s richest men needed a safe jurisdiction to protect the businesses he’d built. He found it in the United Arab Emirates. Moscow-based coal producer SUEK and Zug, Switzerland-based fertilizer firm EuroChem, both founded by Melnichenko, are opening local trading units
