Oligarch Melnichenko ‘may be forced to leave Switzerland’: media report

Fertiliser magnate Andrey Melnichenko is apparently facing a fight to retain Swiss residency. Copyright 2022 The Associated Press. All Rights Reserved.

Switzerland is poised to boot out Russian oligarch Andrey Melnichenko who is resident in the Alpine state, according to a newspaper report.

The commodities magnate is reportedly at the centre of a tug-of-war between his host canton, Graubünden, and the federal migration authorities.

+ Meet the oligarchs: Switzerland’s awkward guests

According to the SonntagsBlick newspaper, some members of Graubünden’s government are determined to defend the multi-billionaire’s five-year residency permit.

But the State Secretariat for Migration is apparently opposed to the idea and would be happy for the oligarch to leave. Migration officials argue that Melnichenko spends too much time outside of Switzerland to deserve a permit.

The case may have to be decided by the Federal Administrative Court, according to the article.

The newspaper says Melnichenko has lived with his family at a luxury home in the glitzy St Moritz ski resort since 2009.

Swiss cantons often compete to attract wealthy foreigners by offering them special tax rates.

His company Eurochem, based in canton Zug, is one of the world’s leading fertiliser producers.

Since Russia invaded Ukraine, Switzerland has come under global pressure to toughen up sanctions against individuals and companies linked to the Kremlin.

Officials in Bern have argued that Switzerland is already playing a full part in enforcing international sanctions.