Banker Oleg Tinkov renounces Russian citizenship over Ukraine

Oleg Tinkov, a billionaire Russian banker, renounced his Russian citizenship in response to the conflict in Ukraine and denounced “Putin fascism.” With about 20 million customers, Mr. Tinkov founded the online Tinkoff Bank, one of Russia’s biggest lenders.

“I can’t and won’t be associated with a fascist country that started a war with their peaceful neighbor,” he wrote in an Instagram post. Few Russian businessmen have publicly criticised Russia’s invasion of Ukraine.

An independent Russian news source, Sota Vision, tweeted a photo of Mr Tinkov’s certificate showing his Russian citizenship terminated, as well as his tirade on Instagram against President Vladimir Putin’s Russia.

After it was published, the original post disappeared, but Mr. Tinkov afterwards wrote again on the social networking platform, blaming “Kremlin trolls” for the disappearance.

He also mentioned in the most recent post that he was pursuing legal action to have his name removed from the bank because he does not want to be associated with “the bank that collaborates with assassins and blood.”

He reportedly resides in London but, like many other members of Russia’s business elite, is subject to UK sanctions. In his initial article, Mr. Tinkov added, “I hope many important Russian businesspeople will join me so that it weakens Putin’s dictatorship and his economy, and puts him inevitably to defeat.”

“I despise Putin’s Russia, but I adore all Russians who are obviously opposed to this insane war,” he concluded.

In much harsher language in April, Mr. Tinkov denounced the Kremlin, calling it a “nepotistic and servile administration.”

“The bureaucrats in Kremlin are startled that not only they, but also their kids no longer want to visit the Mediterranean during the summer. Businessmen are attempting to save what is left of their assets “said he.

He and other prominent Russian businessmen, known as “oligarchs,” are subject to Western penalties that include travel restrictions, asset freezes, and the seizure of yachts and planes. The backing of billionaires who became wealthy through ties to the Kremlin is crucial to President Putin’s ability to wield political and military power.

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