[9] As per Forbes list of The Richest People In The World, dated 8 MARCH 2024, Andrey Melnichenko ranked #91 with a net worth of $21.1 Billion.

[11][12] Melnichenko took an interest in the commodities market and began buying assets in coal and fertilizers, with the acquisition of plants and mines, many of which were distressed.

The bank moved on buying currency at the interbank foreign exchange, developing a derivatives market and debt instruments.

[17] Bloomberg reported that "unlike many bigger rivals, MDM came through the 1998 Russian financial crisis nearly unscathed, thanks to a conservative credit policy, the lack of illiquid assets and no exposure to government bonds.

[18][17] With the process of post-Soviet era privatizations having finished five years earlier, no more than 5% of the assets purchased were acquired from the state.

[22] New manufacturing facilities were built in Novomoskovsk, Nevinnomyssk, and Kovdor (including an apatite and shtaffelite ores processing complex).

EuroChem acquired laboratories in Germany in 2011, which led to the creation of similar facilities in Russia and other countries, which are working on the development of second-generation fertilizers, including advanced slow-release products aimed at reducing the environmental footprint of the agricultural sector.

EuroChem's two potash mines are planning to produce 8 million metric tons of the fertilizer a year, a 10th of current world output.

It has manufacturing, logistic and distribution facilities in Russia, Belgium, Lithuania, Estonia, China, Germany, Kazakhstan, and the USA.

[27][28] Melnichenko announced at SPIEF 2021 that "EuroChem was investing $4.4 billion into modern high-tech ammonia, urea and methanol plants" in Kingisepp in Russia's North-West, of which "10% were being invested into the innovative environmental technologies, which exceed Russia’s regulatory standards", referring to carbon capture and water recycling.

[27] EuroChem produces commodity and specialty fertilizers including inhibitor products that allow slow release of nutrients into crops.

[11][23][31] Melnichenko publicly described his strategy on fertilizers as "taking advantage of the wide range of mineral resources found in Russia and the CIS, having a far-reaching distribution network, backed by logistics assets; and developing general and special purpose fertilisers simultaneously, in constant close contact with direct customers".

[5] Melnichenko became a director of SUEK JSC (Siberian Coal Energy Company) in February 2005, and the chairman in June 2011.

[16] The same year, he created the Siberian Generating Company (SGC) on the basis of electricity assets of SUEK and became the chairman.

In some mining operations, it is even experimenting with completely replacing workers with machines" and "has piloted Russia’s first fully automated longwall in Polysaevo.

[6] According to media reports, in the last fifteen years, Melnichenko's companies have invested more than $23 billion in Russia's new economy and industrial sector.

[15] Melnichenko was placed on the EU sanctions list on the 9 March 2022 on the basis of being "one of the leading businesspersons involved in economic sectors providing a substantial source of revenue to the Government of Russia".

[70][71] In response, Melnichenko commented that he had no relation to the invasion, nor did he have any political affiliations, noting that "to draw a parallel between attending a meeting through membership in a business council, just as dozens of businesspeople from both Russia and Europe have done in the past, and undermining or threatening a country is absurd and nonsensical" and that it was unjustified for him to be placed on the EU sanctions list.

[72][58] According to Swedish economist Anders Aslund, the former senior fellow in the Eurasia Center at the Atlantic Council and the author of "Russia's Crony Capitalism", Melnichenko shouldn't have been sanctioned.

[74] In January 2023 Japan imposed sanctions on Andrey Melnichenko[75] and by Canada under the Special Economic Measures Act (S.C. 1992, c. 17) in relation to the Russian invasion of Ukraine for Grave Breach of International Peace and Security.

[77] In August 2023, Russia's Prosecutor General's Office filed suit against Melnichenko with the aim to nationalize his former company Sibeco, which owns several thermal power plants.

Kuzbassenergo, which currently owns Sibeco, agreed to a deal in which an undisclosed amount of money would be diverted to a social charity engaged in educating children.

[89] In 2016, Bloomberg reported that "the swanky boat reflects the same eye for innovation and high-tech detail that Melnichenko, 44, is now focusing on the fertilizer business that’s helped make him one of Russia’s youngest billionaires.

"[11] In March 2022, following the EU sanctions imposed on the number of Russian businessmen, the Italian authorities seized his Sailing Yacht A in the port city of Trieste.

According to Reuters, Melnichenko responded that he "will be disputing these baseless and unjustified sanctions" which have "no justification" and believes that "the rule of law and common sense will prevail.