Billionaire Russian banker Oleg Tinkov has renounced his Russian citizenship in protest against the war in Ukraine, condemning what he called “Putin fascism”. In an Instagram post, he stated: “I can't and won't be associated with a fascist country that started a war with their peaceful neighbour.”
Tinkov, founder of Tinkoff Bank, one of Russia's largest lenders with about 20 million customers, is among the few Russian tycoons to publicly criticise the invasion. His original post disappeared, but he later reposted, blaming “Kremlin trolls” for its removal. He also announced legal action to remove his name from the bank, saying he did not want to be linked to “the bank that collaborates with killers and blood”.
Living in London but subject to UK sanctions, Tinkov urged other prominent businessmen to follow his lead to weaken President Vladimir Putin's regime. In April, he had strongly criticised the Kremlin, describing it as a regime based on nepotism and servility. He sold his family's 35% stake in TCS Group Holding to Vladimir Potanin, head of Norilsk Nickel.
Other Russian bankers have also renounced their citizenship. Nikolay Storonsky, founder of Revolut, gave up his Russian citizenship and condemned the war. Earlier this month, billionaire investor Yuri Milner announced he had renounced his Russian citizenship; he left Russia in 2014 and lives in the US.
