Tinkov called sanctions against himself a mistake

In early March, BLOOMBERG reported on Oleg Tinkov's request to the British authorities to lift sanctions. The ex-owner of Tinkoff believes that he should not have been subject to restrictions,

Oleg Tinkov, an entrepreneur and former owner of Tinkoff Bank, called the decision of the British authorities to impose sanctions against him a mistake, but considered restrictive measures against most Russian businessmen deserved.

On Instagram, a social network owned by Meta, which is recognized as extremist and banned in RUSSIA, Tinkov wrote that some Russian entrepreneurs would never have achieved such success “if it weren’t for corruption,” while others support the military actions in Ukraine.

“I am neither,” said the businessman. According to the entrepreneur, he founded Tinkoff without the help of the Russian authorities, "from scratch" and created more than 100 thousand jobs. The businessman said that after the start of the Russian military operation, he "abandoned everything that he built and worked for, because he could not be connected with the country that he used to love." So, on October 31, Tinkov announced that he was refusing a Russian passport. The next day, he announced that he was starting to recall his brand from Tinkoff Bank. Earlier, he sold a stake in the parent TCS Group to Vladimir Potanin and said that he was forced to sell the bank "for a penny." The financial institution, however, said that Tinkov was paid a "rather large" amount for the brand. The bank indicated that the legal rights to the brand belong to a financial institution.

“I should never have been included in the sanctions list, but I understand that in difficult situations mistakes can be made. I hope that now we can correct this mistake, ”Tinkov added.

Tinkov, who has repeatedly spoken out against military operations in Ukraine, has lived in the UK in recent years. In March last year, London imposed sanctions against him. The restrictions include a freeze on accounts, a ban on his ships (including leased ones) from entering British ports and accepting his aircraft at British airports. London did not prohibit entry into the country for Tinkov. The UK lifted restrictions against Tinkov's planes and yachts for a while, but soon reinstated them.

In early March of this year, Bloomberg reported on Tinkov's request to the British Foreign Office to remove him from the sanctions list. In the text of the appeal cited by the agency, the businessman urged to take into account his political position. The agency reported that Tinkov's request was supported by Mikhail Khodorkovsky (included in the register of foreign agents). Tinkov confirmed this on his Instagram, thanking Khodorkovsky, associates of opposition leader Alexei Navalny, William Browder, founder of Hermitage Capital, and Richard Branson, HEAD of the Virgin Group, for their support.

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At the beginning of November 2022, FORBES estimated Tinkov's fortune at $860 million. According to the publication, a significant part of this amount is the proceeds from the sale of a 35.1% stake in TCS Group to Potanin's Interros.