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Kremlin comments on financial tycoons renouncing Russian citizenship

Also, Oleg Tinkov wrote that he had begun the process of recalling the Tinkoff brand from the bank

Oleg Tinkov Valery Sharifulin/TASS

Oleg Tinkov

© Valery Sharifulin/TASS

MOSCOW, November 1. /TASS/. Russian businessmen Oleg Tinkov and Nikolay Storonsky are entitled to the right to renounce Russian citizenship as they are doing practically no business in Russia, Kremlin Spokesman Dmitry Peskov said on Tuesday.

"It is their right," he said. "As a matter of fact, they do practically no business here, as far as I know. In other words, they are taking practically no part in economic activities in our country."

On Monday, Tinkov made public his decision to renounce his Russian citizenship. Apart from that, he wrote on his Instagram (outlawed in Russia as an asset of Meta corporation, which is declared extremist in Russia) account that he had begun the process of recalling the Tinkoff brand from the bank. The bank’s press service told TASS that the bank holds all the rights to the Tinkoff brand. Tinkov was put on the British sanctions list in late March.

It was also reported that Nikolay Storonsky, the founder of the Revolut service, had renounced his Russian citizenship as well.

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