Russian oligarch who criticised Putin forced into asset sale and ‘told to fear for his life’

Oleg Tinkov revealed he was forced into selling his 35 per cent stake of Tinkoff Bank
Bill McLoughlin3 May 2022

Russian oligarch Oleg Tinkov who broke ranks to criticise Vladimir Putin has been told to fear for his life, the businessman has revealed.

Mr Tinkov, 54, who founded the TInkoff Bank in 2006 said friends with sources in the Russian security service, have told him he should fear for his life and has since hired personal bodyguards.

Speaking to the New York Times, Mr Tinkov said: “They told me: ‘The decision regarding you has been made’.

“Whether that means that on top of everything they’re going to kill me, I don’t know. I don’t rule it out.”

He said: “I couldn’t discuss the price. It was like a hostage — you take what you are offered. I couldn’t negotiate.

Oleg Tinkov spoke out against the war
REUTERS

“They made me sell it because of my pronouncements. I sold it for kopecks.”

Now based out of Russia, the businessman said there is no longer a future for Russia following the invasion.

“I’ve realised that Russia, as a country, no longer exists. I believed that the Putin regime was bad. But of course, I had no idea that it would take on such a catastrophic scale,” he added.

“I don’t believe in Russia’s future.Most importantly, I am not prepared to associate my brand and my name with a country that attacks its neighbours without any reason at all.”

According to the businessman, he sold his stake in Tinkoff Bank for three per cent of what he believed its true value was.

Last month, Mr Tinkov called for an end to the “insane war” and asked western leaders to present a way out of the war to stop the massacre.

He said: “Dear ‘collective west’ please give Mr Putin a clear exit to save his face and stop this massacre.

“Please be more rational and humanitarian.”

The bank later denied its founder’s comments while Mr Tinkov stated he had had no direct contact with anyone in the Russian government.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Sign up you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy notice .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in