Tinkov said Russian authorities forced him to sell his stake in the bank

Founder and former owner of a minority stake in the bank Tinkoff Oleg Tinkov said that after criticizing the Russian authorities, he was forced to sell his assets for almost nothing. This was reported by The New York Times on May 1st.

According to Tinkov, a day after the Instagram post (he posted it on April 19) condemning the war in Ukraine, representatives of Russia’s presidential administration contacted the bank’s management and threatened to nationalize otherwise the businessman cut off contact with him.

As a result, last week Tinkov sold a 35% stake in TCS Group Holding, the main structure of the Russian group. Tinkoff rank Interros, belonging billionaire Vladimir Potanin.

“I didn’t discuss the price … I was in the role of a hostage – you take what you are offering. I couldn’t negotiate,” the businessman emphasized.

The Bank of Russia approved the deal, its parameters were not disclosed. According to Tinkov, he was forced to sell his stake for “3% of the real value.”

“I don’t believe in Russia’s future. Above all, I’m not ready to associate my brand and my name with a country that attacks its neighbors for no reason,” he said.

The publication recalls that in 2019 Tinkov left the Russian Federation for treatment – he was diagnosed with leukemia. He later resigned and gave control to Tinkoff bankbut retained a 35% stake in the company, which last year was worth more than $ 20 billion on the London Stock Exchange.

On April 19, Tinkov strongly condemned Russia’s invasion of Ukraine, calling the war unleashed by the Russian Federation “insane.” According to him, Russia is mired in nepotism, slavery and slavery.

April 22 Tinkoff bank announced a “long-planned” name change as part of the rebrand.

As reported Athletistic, March 24 Tinkov is on the UK sanctions list. In an interview with the NYT, he said he was hoping for “correcting this mistake.”