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The UK has lifted sanctions against businessman Oleg Tinkov, according to a notice published on the website of the British government.

The sanctions against Tinkov were initially imposed in March 2022. However, last spring, he appealed to the British Foreign Office to reconsider their stance. Tinkov argued that “it would be just to remove the sanctions from me, as they should only target those who support Putin and the war, not all Russians.”

British billionaire and Virgin Group founder Richard Branson and Mikhail Khodorkovsky also joined the request to lift the sanctions against Tinkov.

In October last year, Tinkov decided to renounce his Russian citizenship, citing his refusal to be associated with “Vladimir Putin's fascism.” He strongly disapproved of the conflict in the “DPR” (Donetsk People's Republic), stating that it wouldn't have happened without Putin's involvement.

“I'm distressed by witnessing my fellow countrymen committing senseless acts of killing and robbing innocent people. I want to “unsee” all these horrific events, particularly after enduring the hardships of the past three years. For me, life is invaluable and priceless. I hope that an increasing number of businessmen will take a stand, dissociate from supporting fascism, and be willing to relinquish their businesses and citizenship if needed,” the businessman wrote.

Tinkov is currently a citizen of Cyprus.

Oleg Tinkov

Oleg Tinkov is a Russian-born Cypriot entrepreneur and businessman.

He is known for founding various ventures, including the household appliance shop chain Technoshock, frozen food factories Daria, a Tinkoff-branded brewing company and restaurant chain, the music store Music Shock, and record label Shock Records, which released the first albums by popular Russian bands Kirpichi and Leningrad. He was also the founder and former chairman of Tinkoff Bank, previously known as Tinkoff Credit Systems, which ranks among the top Russian banks in terms of assets and equity.

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