The Registry Agency, which (along with customs) is almost the only Bulgarian institution to do something to apply EU sanctions against Russia, has reported several more suspended deals lately. This is clear from a response from the Agency for access to public information submitted by Mediapool. So far, it has been known that transactions related to the Velchevi, Turkish Stream and Moscow House in Sofia have been blocked.
The case with fertilizer giant Eurochem
The latest sanction imposed by the Agency is from January 17, 2025, when it refused to embark on changes in the ownership of the Bulgarian company on grounds from Russian billionaire Andrei Melnichenko fertilizer giant registered in Switzerland – EuroChem.
In particular – the entry of the transaction for resale of the Pleven company is denied Eurochim Agro Bulgaria Ltd. – by the Swiss owner Eurochem Group Ag (“Eurochim Group AG”) of “Fertako” EOOD. All units worth BGN 500,000 were transferred on January 14, 2025, it is clear from the company’s file in the Commercial Register.
“Eurochim Agro Bulgaria” deals with distribution of mineral fertilizers (nitrogen, phosphorus, potassium, etc.) and chemicals. “Fertako” It is a small company registered at the same address in Pleven as Eurochim and is owned by the businessman Zdravko Sekov. According to the registers He was a member of the Masonic Lodge “Mizia” and until Christmas in 2024 he managed the newly opened Bulgarian company of the Dubai company Feltrist. For several years, until 2023, Sekov was the actual owner of the Bulgarian Eurochim, but was subsequently deleted.
Although the Pyramid of the Property of Eurochim Agro Bulgaria is quite complicated, the Registry Agency finds that it leads to Alexandra Melnichenko – The wife of billionaire Andrei Melnichenko. In the Balkans Alexandra is better known as the former Serbian pop singer and model Sandra Nikolic.
Shortly after the start of the war in Ukraine, the spouses Melnichenko entered the EU sanction lists, by which the Registry Agency motivates the freezing of the transaction.
The big problem of the Bulgarian company, which she has been trying to solve for more than two years with complaints to the court, SANS, MFA, Council of Ministers and the Ministry of Finance, is blocking of a huge monetary resource in the amount of BGN 43 million This is clear from the announced in the fall of 2024 its annual financial statements for the previous year. The impression of the document is that the amount was not unblocked until its writing. It is also stated that the company holds its money and pays mainly through three banks – UniCredit Bulbank (Bulgaria), Deutsche Bank (Germany) and Western Alans Bank (USA).
Mediapool sent questions to a Bulgarian lawyer, moving the file of Eurochim Agro Bulgaria, but did not receive an answer until the editorial completion of the material.
Which eurochem and Melnichenko?
Andrei Melnichenko and his wife Alexandra (Sandra Nikolic). Photo: luxurylaunches.com
The fertilizer giant Eurochem stepped on the Bulgarian market In 2017, when he purchased the Bulgarian fertilizer enterprise “Agricola”, And the deal was approved by the Competition Commission. Andrei Savchuk, sales and marketing of Eurochem for Europe and Turkey, arrived for the event in Bulgaria at the time.
A few days ago as chairman of the Board of Swiss mother Eurochem was appointed Solznicin – an American citizen, a graduate of Harvard and the Massachusetts Institute (MIT), the son of the famous Russian dissident Alexander Solzhenitsyn. The appointment took place on January 14, 2025, according to a Mediapool check in the corporate database North Data.
Stepan Solzhenitsyn, Photo: Wilson Center
Melnichenko, who was born in Belarus, has dual citizenship – Russian and on UAE. He is the founder and until March 9, 2022. He is a director at Eurochem and in the huge Siberian coal extraction company (Siberian Coal Energy Company). On the day of sanctions against Melnichenko, the Italian authorities seized his supercho, then over $ 578 million.
The prestigious US edition for Forbes ordered the industrialist Melnichenko in 91st wealth in the world in 2024, but this year he “fell” to 117th.
Andrei Melnichenko married Sandra Nikolic in 2005 in France, according to secular publications at their wedding against huge fees were attended Whitney Houston, Christina Aguilera, Julio and Enrique Iglesias.
In the summer of 2024, Melnichenko interviewed the infamous American presenter Tucker Carlson.
Although European institutions consider a billionaire as a representative of Vladimir Putin’s nearby round, in 2023 he was raised against him charges from the Russian prosecutor’s office, which a few months later dropped out. According to analysts, these actions are part of Putin’s attempt to press Russian oligarchs to return some of their assets abroad to Russia in order to continue financing the war in Ukraine.
Melnichenko Not a great apologist of the war in Ukraine. In the first days after the start of the invasion, the billionaire, who was born in Belarus and whose mother is Ukrainian, in a statement to Reuters announced that what is happening is happening “True tragic” And he called for peace.
In the fall of last year, the EU court rejected Melnichenko’s request to exclude him and his former company from the sanction lists.
Network of connecting (current and previous) of Eurochem Group AG, Switzerland
Source: North Data
How did the Registry Agency come to Sandra Nikolic?
The Registry Agency has blocked the deal with Eurochim Agro with the argument that the property of the Bulgarian company, albeit through a complex network of companies in Switzerland and Cyprus, reaches the sanctioned wife of billionaire Andrei Melnichenko Alexandra.
As soon as he enters the European lists, as early as March 9, 2022, the Russian industrialist transferred to his wife the real property and revenue of the large fertilizer manufacturer Eurochem Group and the Coal Society SEEK.
“Alexandra Melnichenko took advantage of her husband’s wealth and benefits from him. In March 2022 Andrei Melnichenko, and is related to him with common financial interests, “ Indicates the Registry Agency based on the European sanction documents.
“From the company’s batch review (” Eurochim Agro Bulgaria “EOOD, b.) It is evident that, according to a group of actual owners in the field 537 and 538 “Eurochem Group AG” (Eurochem Group), identification 306864578, foreign legal entity, State: Switzerland, majority owner of the capital of which is the company “Hey moon is a moon of the puree” (AIM Capital LTD), НЕ 133817, Cyprus, respectively its majority owner of the capital is “Linea” (Cyprus) LTD, with number in the relevant national register: not 378886, majority owner of the capital of which is “Laintrast PTS LTD” (Linetrust PTC LTD). According to the documents submitted to the application B7 with registration No. 20240829141241, whether the grounds for entering the cited circumstances, “Linet PTS LTD” (Linetrust PTC LTD) is a trustee of “Furstline” (Firstline Trust), and 87 150 of the shares (or 24.9%) of “Linea” (Cyprus) LTD, with number in the relevant national register: not 378886, are owned by Alexandra Melnichenko “ indicates the Registry Agency.
Based on all this, the Bulgarian agency assumes that “There are indications that Alexandra Melnichenko may also control Linea LTD and other ownership companies, respectively Eurochim Group AG, Switzerland, and Eurochim Agro Bulgaria EOOD. As a result, the agency freezes the deal.
“Eurochim”: Alexandra Melnichenko is not the owner, only a discretionary beneficiary
In its report for 2023, Eurochim Agro Bulgaria confirms that on 9 March 2022 The former beneficiary of the Eurochem Group AG Trust – Firstline Trust, as well as a member of the board of directors of Eurochem Group AG Andrei Melnichenko is Included in the EU and Switzerland sanction lists.
On March 8 and 9 of the same year Melnichenko was withdraws from both positions, but on June 3, 2022 The EU publishes the sixth package of sanctions, which in which Alexandra Melnichenko is among the sanctioned. It was then that The bank freezes the sum of BGN 43 million. of the Bulgarian Society.
According to the company’s report at that moment Alexandra Melnichenko wrong has been considered by the service bank for owner of Eurochem Group AG, which is why the account of Eurochim Agro Bulgaria EOOD was frozen.
It is specified that the lady was only “discretionary beneficiary” At Firstline Trust, which does not give her property rights or control over the Trust in question.
Complaints to the MFA, SANS and the Government
Although Eurochim has been engaged in almost the entire country with its blocked millions, the case has not been publicly reported by any institution.
More than two years ago, the Bulgarian company started Appeal Legal Procedures of her sanctions in our country.
On October 10, 2022, the company filed a request to MFA And Dance To give an act to say that the company is not owned and is not controlled by sanctioned persons and the servicing bank to release the frozen money.
On October 20, 2022, SANS replied that he had no competence to cancel sanctions. On November 14, 2022 and the Ministry of Foreign Affairs, he said the same, before sending the issue to the national sanction coordinator in The Ministry of Finance, who is Deputy Minister of Finance.
The company subsequently appealed to court The tacit refusal of the Deputy Minister of Finance. In April 2023, the Pleven Administrative Court diverted the appeal to resolve by The Council of Ministers. At the time of preparation of the report submitted to the Registry Agency in September 2024, there is no decision of the Council of Ministers, and the company has no indications of whether the servicing bank would adopt a positive decision and annul the freezing of the funds.
After freezing the money, the company is continued to carry out her main activity, Having offset her claims from her customers. At the end of 2023, the Bulgarian company declared obligations to the parent company in the amount of BGN 21.9 million and commercial liabilities to related parties of the group worth BGN 27 million in 2023. The company was on the company was on the company Loss of BGN 3.6 million
In 2024, however, the main activity of the company was changed to Rental rental, But the company says that “Management has plans to continue the activity in the foreseeable future.” It is also stated that “Management believes that the appeal of the sanctions imposed on the freezing of bank accounts will successfully end in the foreseeable future.” The outcome of the saga is currently unknown.
Bulgaria refuses to enter a helicopter
Outside the history with the Bulgarian company from the orbit of Andrei Melnichenko, another interesting case of freezing of entries is related to an aircraft.
Twice – in 2022 and in 2023, the Registry Agency refused to impose an increase in the capital of Magna Vista company through a helicopter helicopter registered by the Federal Air Transport Agency of the Russian Federation. The motive is that the asset (a civilian helicopter) falls under the prohibition of the main Euro -regulation on restrictive measures against Russia.
The helicopter is type R-44 and was valued at 854 200 BGN.
The alleged helicopter-the object of the attachment, type R-44, serial number 1924, state registration number RA-04264. The frame for the provision of which Mediapool thanks to the author was filmed in Poland in 2015. Photo: Jetphotos.net, PAWEL PM
“It is evident from the documents attached to the application, the aircraft is registered in the Russian Federation and not in the Republic of Bulgaria, which circumstance impedes the entry of the attachment, respectively the capital increase,” Indicates the Registry Agency in its refusal of January 2023.
In addition, the EU regulation prohibits direct and indirect sale, delivery, transfer or export of goods and technologies suitable for use in the aviation or space industry and fuel for jet engines and fuel additives, whether or not they originate in the Union, of individuals or legal entities, formations or organs in Russia.
“Magna Vista” is a Varna company, registered in November 2021, by Russian citizens Oleg and Irina Anissimovi.
What sanctioned Russians have properties in Bulgaria?
The Registry Agency maintains List of all sanctioned individuals and legal entities of the Russian Federation and Belarus, Who is updated on a daily basis, and the officials for registration in the Commercial Register are obliged to check it before examining and deciding on each application, the institution explained. If an application is received by a person in the sanction lists or an application related to the ownership of such a person, the agency shall inform the SANS, the Ministry of Interior, the Ministry of Foreign Affairs, the Ministry of Justice and the National Coordinator.
However, it is difficult to refer to the commercial and property register on the basis of the civilians of individuals with companies and real estate in Bulgaria or on the basis of the registration of legal entities, it is also clear from the response of the Registry Agency to Mediapool. From there, they add that in the Bulgarian Commercial Register the shareholders are not subject to entry unless they are sole owners of the capital. Information can be made to specific persons and if they are referred to as actual owners for the purposes of combating money laundering, but in both cases it is very important to match the accurate match when speaking of the names.
However, the Agency has established several coincidences of persons involved in the restrictive measures against Russia and Belarus holding property rights or limited real estate rights in Bulgaria. Most of them are sanctioned as MPs in the State Duma.
Source: Registry Agency. According to the European sanction list, the birthday of MP Buzkaya is 08.05.1975.
#Bulgaria #frozen #BGN #million #woman #billionaire #Melnichenko #stopped #Russian #helicopters