Russia Takes Legal Action Against Billionaire Andrey Melnichenko, Aiming to Seize His Power Assets

The Russian government has filed a lawsuit against billionaire Andrey Melnichenko, accusing him of "corrupt collusion" in the purchase of energy company Sibeco. The government is seeking to seize the company and bring Russian wealth back to the country amid the ongoing war with Ukraine. Melnichenko, the wealthiest man in Russia, purchased Sibeco from former government minister Mikhail Abyzov in 2018. Abyzov was later arrested on charges of embezzlement and defrauding shareholders. The lawsuit has been received, and a hearing is scheduled for September 7.