Russian billionaire Oleg Tinkov renounces citizenship over war in Ukraine

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Oleg Tinkov, one of the first Russian billionaires to speak out against the country’s invasion of Ukraine, has renounced his citizenship.

“I have taken the decision to exit my Russian citizenship,” Tinkov said Monday on his Instagram account.

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He said he didn’t want to be associated with a country “that started a war with their peaceful neighbor and killing innocent people daily. It is a shame for me to continue to hold this passport.”

Tinkov, 54, in April published an expletive-filled post about Russia’s “insane war” on his Instagram.

A week later, after Tinkoff Bank’s co-chief executive officers quit and the bank distanced itself from its founder and announced plans to drop his name from the brand, he sold his family’s stake to Vladimir Potanin for an undisclosed amount.

Tinkov, who was sanctioned by the UK in March, said he hopes more Russian business tycoons will also renounce their citizenship “so it weakens Putin’s regime and his economy, and put him eventually to defeat.”

“I hate Putin’s Russia, but love all Russians who are clearly against this crazy war!” he wrote Monday on Instagram.

Nikolay Storonsky, the 38-year-old co-founder and CEO of London-based fintech startup Revolut Ltd., also renounced his Russian citizenship, Bloomberg reported on Monday.

He’s worth $6.7 billion, according to the Bloomberg Billionaires Index.

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