Oleg Tinkov, a millionaire Russian banker, renounced his Russian citizenship in response to the conflict in Ukraine and denounced “Putin fascism.” With roughly 20 million customers, Mr. Tinkov launched the online Tinkoff Bank, one of Russia’s biggest lenders.
“I can’t and won’t be connected with a fascist country that began a war with their peaceful neighbor,” he wrote in an Instagram post.
Few Russian businessmen have publicly criticized Russia’s invasion of Ukraine.
Sota Vision, an independent Russian news outlet, tweeted a picture of Mr. Tinkov’s document indicating the termination of his Russian citizenship as well as a link to his Instagram tirade against Russia and President Vladimir Putin.
https://www.instagram.com/p/CkaVg5YMOIy/
After it was published, the original post disappeared, but Mr. Tinkov afterward 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.”
⚡Олег Тиньков отказался от российского гражданства
Об этом бизнесмен сообщил у себя в инстаграме. pic.twitter.com/E7kvjIHKOx
— SOTA (@Sota_Vision) October 31, 2022
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 the much stronger 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.
Also in April, Mr. Tinkov sold the 35% stake his family owned in the Cyprus-based business he formed, TCS Group Holding. Vladimir Potanin, the owner of the massive mining company Norilsk Nickel and one of Russia’s richest men, was the buyer.
Banking, insurance, and mobile phone companies all operate under the Tinkoff name and are owned by TCS.
According to media sources, Nikolay Storonsky, another Russian businessman, has also renounced his Russian nationality. He established the British financial start-up Revolut and holds British citizenship. In a blog post earlier this year, he denounced the war in Ukraine and mentioned his Ukrainian ancestry.
Israeli-Russian billionaire capitalist Yuri Milner declared earlier this month that he had relinquished his Russian citizenship. He moved to the US in 2014 after leaving Russia.
