Former Russian oligarch Oleg Tinkov, known for his staunch opposition to the “crazy war” in Ukraine, now resides in Switzerland after being expropriated by the Kremlin. At 55 years old, Tinkov is a vocal critic of President Vladimir Putin and has not hesitated to condemn the silence of the Russian elite regarding the invasion. He became the first Russian billionaire to have Western sanctions against him removed after a British court upheld his challenge to the sanctions.
Removed From Sanctions List
The Russian billionaire is known for founding the fast-growing Tinkoff Bank in 2006. He sold his 35% stake in the group that owns Tinkoff Bank in April 2022, claiming the Kremlin forced him to do so after he condemned Russia’s invasion.
Following a court ruling, Tinkov was removed from the UK sanctions list as of July 20, 2023. Most recently, celebrities such as Richard Branson publicly advocated for Tinkov.
Russian Oligarchs Are Cowards
Oleg Tinkov strongly denounces loyalists of Vladimir Putin as “cowards” and calls on Kremlin profiteers to take a stand against the war. Tinkov believes the West should encourage them to do so by offering the possibility of lifting sanctions.
Viewing his court victory as a signal for Moscow’s elite to speak out against Putin’s actions in Ukraine, Tinkov believes that the removal of sanctions is a positive development, demonstrating to other Russian businessmen that leaving Russia for a more civilized world is a viable option.
Since the outset of the conflict, Tinkov has openly opposed Putin’s actions, expressing grave concerns about Russia’s slide into “fascism.” In protest, he made the decision to renounce his Russian citizenship, a move that caused several other Russian billionaires to distance themselves from him out of fear. Nonetheless, Tinkov remains determined to persuade Russia’s oligarchs to take a firm stance against Putin and choose between supporting his regime and advocating for peace.
Clear Path To Lifting Sanctions
While some Russian oligarchs are willing to speak out against Putin if presented with a clear path to lifting sanctions, many prefer to remain hopeful for peace and avoid direct criticism to safeguard their wealth. The Kremlin has adopted a strategy of rewarding loyalty among Russian businessmen, enticing them with promises of increased wealth through the acquisition of Western companies in Russia. However, even those currently loyal to Putin harbor constant fears of potential expropriation by the Kremlin.
Having not returned to Russia since his leukemia diagnosis in 2019, Tinkov now resides in Switzerland and faced the loss of his shares in Tinkoff bank due to his outspoken criticism of the war. Despite being exempt from Western sanctions, Tinkov admits that life has not been easy, and the sanctions have imposed greater challenges on him compared to businessmen who chose to remain in Russia.
Despite the hardships, Tinkov continues to be an outspoken advocate, considering himself a hero for England and Europe, willing to risk his safety to stand by his beliefs. He recognizes that his situation is far from fair when contrasted with the lavish lifestyles of Putin’s regime friends, who enjoy running banks and globetrotting. As for Russia’s future under Putin, Tinkov remains uncertain, believing that the unpredictable nature of the country’s politics, lack of consistent laws, and constant asset shifts create an atmosphere akin to a game of Russian roulette.
