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☆ One of Russia's richest oligarchs who now lives in Dubai says Putin's invasion of Ukraine made him a 'pariah'
▼ + stars: | 2023-09-02 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

One of Russia's richest men, Andrey Melnichenko, said the Ukraine war had made him a "pariah." Melnichenko now lives in the UAE, where his $300 million Motor Yacht A is moored. His $578 million Sailing Yacht A was seized by Italian authorities shortly after he was sanctioned. AdvertisementAdvertisementOne of Russia's richest individuals said he'd become a "pariah" in the United Arab Emirates where he fled after being sanctioned. Oleg Tinkov managed to get sanctions against him in the UK lifted after slamming Putin's invasion of Ukraine and getting the backing of British business tycoon Richard Branson.

Persons: Andrey Melnichenko, Melnichenko, he'd, Vladimir Putin, I'm, Roman Abramovich, Arkady Volozh, Oleg Tinkov, Richard Branson Organizations: United, United Arab Emirates, Financial Times, Forbes, Chelsea FC, Bloomberg, EU Locations: Ukraine, UAE, United Arab, Russia, Israel, Le

☆ The UK exempted some Russian oligarchs from sanctions, allowing them to pay for private chefs, report says
▼ + stars: | 2023-07-27 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

But many of them are allowed to spend a fortune on living expenses, The New York Times reported. One tycoon had permission to pay 19 members of staff, including private chefs, the report said. Last year, officials granted at least 82 exemptions — known as licenses — to oligarchs who were affected by UK sanctions imposed as a result of Russia's invasion of Ukraine, the report said. A big chunk of that money went into a security company that has been under investigation for likely helping Aven evade sanctions, The Times reported, citing court records. A spokesperson for the UK Treasury told The Times that licenses to allow payments for "basic needs" are "strictly monitored."

Persons: Mikhail Fridman, Fridman, Pavel Golovkin, Petr Aven, Vladimir Putin, Aven, Oleg Tinkov, Putin Organizations: New York Times, Service, The Times, EU, Bloomberg, Treasury, Times, Alfa Locations: Wall, Silicon, Ukraine, London, British, Russian, Moscow, Russia

☆ A Russian oligarch who slammed Putin's invasion of Ukraine got taken off UK's sanctions list after he got Richard Branson to back him
▼ + stars: | 2023-07-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The UK on Wednesday lifted sanctions against Russian oligarch Oleg Tinkov. Virgin Group founder Richard Branson endorsed Tinkov's appeal against the sanctions. The UK on Wednesday lifted sanctions against Russian oligarch Oleg Tinkov, the British foreign office announced Thursday. The Russian businessman has been an outspoken critic of Russian President Vladimir Putin's war in Ukraine. Tinkov's appeal against the UK's sanctions was endorsed by Richard Branson, the founder of the Virgin Group empire, The Times media outlet reported on Monday.

Persons: Oleg Tinkov, Tinkov, Richard Branson, Vladimir Putin's, Branson, Tinkov hasn't, Corker Binning, David Corker Organizations: Virgin Group, Service, Bank, New York Times, Times, US, EU, Forbes, Tinkoff Bank Locations: Ukraine, Wall, Silicon, Russia, British, Russian, Cyprus, Tinkov

☆ Russia's Tinkoff cancels dollar Eurobond interest payment after EU sanctions
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

Tinkoff, owned by TCS Group Holding (TCSq.L), was included in the EU's tenth package of sanctions against Russia outlined last week following Moscow's military campaign in Ukraine. It has already been forced to suspend some trading in euros and had its app removed from the App Store. The Eurobond issuer, TCS Finance D.A.S, which is also part of the TCS group, said it was notified on March 3 that Tinkoff had cancelled the payment of interest, due on March 15, accrued on a $300 million perpetual bond. The issuer said interest on March 15 would be automatically cancelled as a result. Reporting by Elena Fabrichnaya and Alexander Marrow; editing by Jan Harvey and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's Tinkoff banking app removed from App Store
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, March 2 (Reuters) - Sanctioned Russian digital lender Tinkoff Bank said on Thursday its mobile applications had been deleted from Apple's App Store, following the imposition of European Union sanctions last week. Tinkoff was forced to suspend trading in euros following the sanctions on Monday, and has now had its app removed from the App Store, it said. Tinkoff's brokerage app, used by millions of Russian retail investors, had also been deleted from the App store. As a branch-less digital-only bank, Tinkoff has millions of clients rely on its online services for their daily banking needs. Tinkoff said it was working on a solution to allow users to download their app again in the future.

☆ Russia's Tinkoff bank to suspend trading in euros from Feb 27
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +1 min

Feb 26 (Reuters) - Russian online bank Tinkoff, run by TCS Group Holding (TCSq.L), said on Sunday it would suspend trading in euros from Monday following the imposition of a further set of European Union sanctions. The package includes cutting off more banks, among them Tinkoff and the private Alfa-Bank, from the SWIFT global payments system. Euro trading will be suspended from Feb. 27, 2023," Tinkoff said in a statement, adding that trading in other currencies would not be affected. In a separate statement, Tinkoff said it had prepared counter-measures to the sanctions which would allow a transfer of assets to a new non-sanctioned company within three weeks. Tinkoff Bank was set up by entrepreneur Oleg Tinkov, who has become an outspoken critic of President Vladimir Putin and Russia's invasion of Ukraine.

☆ Russian oligarchs believe Putin tricked them into appearing to support the war in Ukraine, and got them all sanctioned, report says
▼ + stars: | 2022-12-18 | by ( Katie Balevic | ) www.businessinsider.com time to read: +4 min

Russian oligarchs say Putin tricked them into supporting his war in Ukraine, per The New York Times. When Putin announced the invasion, they were gathered before cameras "to tar everyone there," The Times reported. "Russian businesspeople, Russian officials, the Russian people — they saw a czar in him. He joined rows of other business moguls who were equally surprised by Putin's invasion. In the weeks and months that followed, Russian oligarchs had their assets frozen and were banned from traveling to some countries as the Ruble fell into freefall.

Since the early days of the invasion, Mr. Putin has conceded, privately, that the war has not gone as planned. “I think he is sincerely willing” to compromise with Russia, Mr. Putin said of Mr. Zelensky in 2019. To join in Mr. Putin’s war, he has recruited prisoners, trashed the Russian military and competed with it for weapons. To join in Mr. Putin’s war, he has recruited prisoners, trashed the Russian military and competed with it for weapons. “I think this war is Putin’s grave.” Yevgeny Nuzhin, 55, a Russian prisoner of war held by Ukraine, in October.

☆ Factbox: Who is Russian businessman Vladimir Potanin?
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +3 min

Dec 15 (Reuters) - Vladimir Potanin, who was placed on a U.S. sanctions list on Thursday, is one of Russia's wealthiest businessmen. - Potanin, 61, is the president and largest shareholder at Nornickel, the world's largest producer of palladium and refined nickel. In 2021 Nornickel was the world's top producer of refined nickel, used to make stainless steel and important for electric vehicle batteries. - The son of a high-ranking Soviet trade official, Potanin was educated at Moscow’s elite diplomatic academy. - Potanin has taken care to stay on the right side of President Vladimir Putin, for instance by accepting a $2 billion fine after Nornickel angered the president by causing Russia's biggest Arctic oil spill two years ago.

☆ Tinkov renounces citizenship of 'fascist' Russia over Ukraine war
▼ + stars: | 2022-11-01 | by ( ) www.nbcnews.com time to read: +2 min

Serial entrepreneur Oleg Tinkov has renounced his Russian citizenship, saying he does not want to be associated with “fascism” or people who collaborate with “killers.”In an Instagram post published on Tuesday, the 54-year-old founder of Tinkoff Bank wrote: “I decided to renounce my Russian citizenship after Russia invasion of independent Ukraine. He was forced to sell his 35% stake in TCS, Tinkoff Bank’s parent, to Russian metals magnate Vladimir Potanin in April, following a string of anti-war comments. “I hate when my brand/name is associated with the bank that collaborates with killers and blood.”Oleg Tinkov. Before he sold his stake, Britain imposed sanctions on Tinkov, saying he was “receiving benefits from the Russian government” through his stake in a systemically important company. Tinkoff previously held U.S. citizenship, but renounced that around the time Tinkoff Bank went public in 2013 in what Washington said was an attempt to avoid tax liabilities.

☆ Russian Oligarch and Putin Critic Renounces Citizenship Over Ukraine War
▼ + stars: | 2022-11-01 | by ( Stu Woo | ) www.wsj.com time to read: 1 min

Oleg Tinkov, who has used Instagram to criticize Russian President Vladimir Putin and Russia’s role in the Ukraine war, in St. Petersburg in 2019. Oligarch Oleg Tinkov said he has renounced his Russian citizenship over the war in Ukraine, making him one of the highest-profile Russian businessmen to take the step. In August, Russian-born billionaire tech investor Yuri Milner , a longtime fixture of the Silicon Valley venture capital set, renounced his Russian citizenship. Mr. Tinkov, who founded Russia’s Tinkoff Bank in 2006, said in an Instagram post that he didn’t want to be associated with what he called the “fascist regime” of Russian leader Vladimir Putin.

☆ Entrepreneur Tinkov renounces Russian citizenship over Ukraine war
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

In an Instagram post published on Tuesday, the 54-year-old founder of Tinkoff Bank wrote: "I decided to renounce my Russian citizenship after Russia invasion of independent Ukraine. He was forced to sell his 35% stake in TCS, Tinkoff Bank's parent, to Russian metals magnate Vladimir Potanin in April, following a string of anti-war comments. Tinkov said an original Instagram post published on Monday, with a picture of a certificate renouncing his citizenship as of Oct. 26, had "mysteriously disappeared". Before he sold his stake, Britain imposed sanctions on Tinkov, saying he was "receiving benefits from the Russian government" through his stake in a systemically important company. Tinkoff previously held U.S. citizenship, but renounced that around the time Tinkoff Bank went public in 2013 in what Washington said was an attempt to avoid tax liabilities.

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. Tinkov, who founded Tinkoff Bank in 2006, earlier this year blasted Russia’s “insane war” in Ukraine. 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.

☆ 2 major Russia businessmen renounced their citizenship, condemning Putin's invasion of Ukraine
▼ + stars: | 2022-11-01 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +4 min

Revolut CEO Nikolay Storonsky and tycoon Oleg Tinkov renounced their Russian citizenship. "I hate Putin's Russia, but love all Russians, who are clearly against this crazy war!" In the later post, Tinkov blamed "Kremlin trolls" for that first post having "mysteriously disappeared." Storonsky also criticized the conflict in a company blog post earlier this year, highlighting his Ukrainian family connections. "I hope more prominent Russian businessmen will follow me, so it weakens Putin's regime and his economy," he wrote.

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