The chief executive of Revolut has renounced his Russian citizenship, as he continues his long pursuit of a UK banking licence and his father is sanctioned by Ukraine for his role with Gazprom.
Nikolay Storonsky Jnr, co-founder of the $33bn (£28.5bn) fintech company, previously held both British and Russian passports but renounced his Russian citizenship following Vladimir Putin’s invasion of Ukraine, The Telegraph revealed.
It comes as his father, Nikolay Storonsky Snr, was sanctioned earlier this month by the Ukrainian government over his role as director general of Gazprom Promgaz, the engineering and research arm of the Kremlin-controlled energy company.
Mr Storonsky Snr was included in a fresh list of sanctions in Ukraine on October 19 that was proposed by the country’s National Security and Defence Council (NSDC) and signed off by President Zelensky.
The NSDC said that owing to his position at Gazprom Promgaz, Mr Storonsky Snr “is responsible for the material and financial support of actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine”.
As a result of the sanctions, Mr Storonsky Snr’s Ukrainian assets will be frozen and he will be banned from entering Ukraine, the country of his birth. He has not been sanctioned in any other jurisdiction.
The revelation that his father has been sanctioned over the war and his decision to revoke his Russian citizenship highlights the difficult position the Revolut chief executive has found himself in following Mr Putin’s invasion of Ukraine in February.
Mr Storonsky Jnr has publicly criticised Russia’s invasion from the outset of the war, calling it “totally abhorrent” and suspending Revolut’s operations in Russia and Belarus.
The company also established a new hub in Dubai to relocate its Ukrainian and Russian staff and their families following the invasion.
