Oleg Tinkov renounces Russian citizenship over war in Ukraine | CNN Business

Oleg Tinkov renounces Russian citizenship over war in Ukraine | CNN Business

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Sanctions target Russian Oligarch yachts 06:55 - Source: CNN

London/Hong Kong CNN Business  — 

Oleg Tinkov, the founder of a major Russian digital bank, has renounced his Russian citizenship in protest over the war in Ukraine.

“I have taken the decision to exit my Russian citizenship,” Tinkov announced in a post on Instagram on Monday alongside a photo of a certificate confirming his decision, dated October 26.

The post has since been taken down, but photos of it have been circulated on social media and reported by Russian state media.

“I can’t and won’t be associated with a fascist country that started a war with their peaceful neighbor and killing innocent people daily,” Tinkov wrote.

Tinkov, who founded Tinkoff Bank in 2006, earlier this year blasted Russia’s “insane war” in Ukraine. Hewas one of 65 individuals and entities sanctioned by the United Kingdom on March 24 for “supporting Russia’s illegal invasion.”

Tinkov recently sold his 35% stake in Tinkoff Bank’s parent company TSC to a firm controlled by Russian billionaire Vladimir Potanin. Before the sale, Tinkov’s wealth was estimated at about $3.5 billion, according to the Bloomberg Billionaires Index.

Another billionaire financial services tycoon has also cut ties with Russia over the war.

Nikolay Storonsky, the co-founder and CEO of Revolut, renounced his Russian citizenship earlier this year, the British company said Tuesday, confirming a report in The Telegraph.

“His position on the war is on the public record: the war is totally abhorrent and he remains resolute in calling for an immediate end to the fighting,” Revolut said in a statement.

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