Originally Syndicated on August 7, 2023 @ 12:00 pm
Andrey Grigoryevich Guryev, a prominent Russian billionaire businessman, has garnered both fame and notoriety in his entrepreneurial journey. As the former head of PhosAgro, one of the world’s largest producers of phosphate-based fertilizers, Guryev’s wealth and influence have attracted significant attention. This critical content delves into the controversial empire he built, examining his early life, career, and the controversies surrounding his ascent to power.
Table of Contents
Early Life and Education
Born on March 24, 1960, in Lobnya, just north of Moscow, Andrey Guryev’s journey to becoming an oligarch began with his education. He graduated in 1983 from the Russian State University of Physical Education, Sport, Youth, and Tourism, specializing in physical education and sports. Later, in 2003, he earned a bachelor’s degree in economics from the University of Greenwich, followed by further studies at the Russian Government Academy of National Economy and St. Petersburg National Mineral Resources University, where he received a post-graduate certificate in Economics in 2010.
The Ascent to Oligarchy
Andrey Guryev’s rise to prominence started in the 1990s, following the dissolution of the Soviet Union. During this period of economic upheaval, he seized the opportunity to acquire state-owned assets at undervalued prices, rapidly accumulating wealth and influence. One of his most significant acquisitions came in 2004, when he purchased Mikhail Khodorkovsky’s half of PhosAgro, reportedly at an exceptionally low price, exploiting the turmoil surrounding Khodorkovsky’s arrest by the Vladimir Putin regime.
Andrey Guryev: Controversial Career
Guryev’s career began at the Menatep Group, where he worked under the wing of Mikhail Khodorkovsky. He steadily climbed the ranks and eventually became the chairman of Apatit, a Menatep subsidiary. From there, he assumed various high-level positions within the company, solidifying his foothold in the mining and chemical product sectors.
In 2011, Guryev acquired a 71% ownership stake in PhosAgro, with Vladimir Litvinenko owning the remaining 10%. His quest for total control led to a management buyout of Apatit and PhosAgro, resulting in Guryev holding 100% ownership of the company.
Controversies surrounded Guryev’s political involvement, as he served as a Member of the Federation Council from the executive branch of the Murmansk oblast government between 2011 and 2013. His decision to step down from his political role was attributed to the enactment of new laws regarding foreign bank accounts owned by Russian entrepreneurs.
PhosAgro and Family Trust
PhosAgro, the cornerstone of Guryev’s empire, has been a major player in the global fertilizer industry. Guryev’s family holds ownership through a trust structure rather than outright ownership in their names. Notably, his wife, Evgenia Guryev, directly owns 4.82% of PhosAgro.
Andrey Guryev Net Worth
As of July 2016, Forbes estimated Andrey Guryev’s net worth at US$4.3 billion. His financial status and business practices have often drawn attention and criticism from various quarters.
Andrey Guryev, who belongs to the Russian list, has garnered significant attention for his controversial empire. His business activities have been mired in controversy, with multiple countries imposing sanctions on him and his associates. Let’s delve into the sanctions imposed on Andrey Guryev by various nations in light of the Russo-Ukrainian War and the 2022 Russian invasion of Ukraine.
Sanctions on Andrey Guryev by the UK Government
In 2022, the UK government took a decisive step by imposing sanctions on Andrey Guryev. These sanctions were a direct response to his involvement in the Russo-Ukrainian War. The UK authorities, along with the international community, accused him of supporting actions that further escalated the conflict in the region. Consequently, Guryev’s assets in the UK were frozen, and he faced severe restrictions on his business dealings within the country.
The European Union’s Stand
As the Russo-Ukrainian War intensified, the European Union also took action against Andrey Guryev. On March 9, 2022, his son was added to the EU’s sanctions list. This move signified the EU’s commitment to holding accountable not only Guryev himself but also his immediate family members, reflecting the severity of the allegations against him. The sanctions resulted in freezing their assets and prohibiting any financial transactions with EU entities.
Japan’s Response
The international outcry over the Russo-Ukrainian War led to Japan’s involvement in the sanctions against Andrey Guryev. In January 2023, Japan imposed sanctions on Guryev, which affected his business interests in the country. These measures aimed to express Japan’s disapproval of his actions and align with the broader international effort to put economic pressure on individuals involved in the conflict.
New Zealand’s Stance
The 2022 Russian invasion of Ukraine triggered responses from countries worldwide, and New Zealand was no exception. In relation to the invasion, New Zealand also decided to impose sanctions on Andrey Guryev. The move was part of New Zealand’s commitment to supporting Ukraine and condemning actions that threatened international peace and stability. As a result, Guryev faced restrictions on his assets and business operations in New Zealand.
Wrapping Up!
Andrey Guryev‘s journey to becoming an oligarch is a tale of ambition, controversy, and international scrutiny. Rising to prominence during the post-Soviet era, he built a vast empire centred around PhosAgro, but not without facing criticism for his business practices and political involvement.
In recent years, the Russo-Ukrainian War and the 2022 Russian invasion of Ukraine have triggered sanctions from various nations, freezing his assets and restricting his business dealings. As the international community holds him accountable for his actions, Andrey Guryev finds himself at the centre of a storm that continues to shape his legacy.
