Ex-cycling team boss Oleg Tinkov renounces Russian citizenship over Ukraine war

Former WorldTour team owner Oleg Tinkov has renounced his Russian citizenship over the Ukraine war, saying he "won't be associated with a fascist country".

Tinkov — a billionaire banker who was involved in professional cycling from 2005 to 2016, best known for his Tinkoff cycling team for whom Alberto Contador won two Grand Tours — has previously been critical of the war and yesterday confirmed he would be "ending" his Russian citizenship.

"I have taken the decision to exit my Russian citizenship. I can't and won't be associated with a fascist country that started a war with their peaceful neighbour and [is] killing innocent people daily," he explained on Instagram, sharing a picture of a certificate confirming his citizenship renouncement.

"I hope more prominent Russian businessmen will follow me, so it weakens Putin's regime and his economy, and put him eventually to defeat.

"I hate Putin's Russia, but love all Russians, who are clearly against this crazy war!"

The post has since "disappeared", Tinkov blaming the "Kremlin's trolls" in a new upload which also revealed he plans to legally remove the Tinkoff name from Tinkoff Bank, the company he founded but eventually quit as CEO from.

Tinkov has been hit by sanctions imposed following the start of the conflict in late February and has been an outspoken critic of the war, previously calling it "insane" and a "massacre".

Back in April, Tinkov again took to Instagram, writing: "I don't see a single beneficiary of this insane war! Innocent people and soldiers are dying.

"Waking up with a hangover, the generals realised that they have a shit army. And how will the army be good, if everything else in the country is shitty and mired in nepotism, sycophancy and servility?"

Forbes estimated that the businessman, who founded the online Tinkoff Bank of 20 million customers, may have even lost his billionaire status due to the sanctions imposed by world leaders.

In 2020, Tinkov was arrested in London on charges of tax evasion in the United States, released on bail, and has since quit as CEO of Tinkoff Bank and also been treated for leukaemia. 

Last October he pleaded guilty to tax fraud and was fined $500 million.

By that time, Tinkov's involvement in professional cycling had long since passed, the colourful owner stepping away from the sport at the end of 2016, having funded Contador's 2014 Vuelta a España and 2015 Giro d'Italia wins.

 > "F*ck all of them!" Oleg Tinkov to walk away from cycling at end of 2016

Another headline-making moment from his memorable involvement was the million-euro challenge to Contador, Vincenzo Nibali, Chris Froome and Nairo Quintana to ride all three Grand Tours in 2015.

Ultimately, the grand showdown never materialised, Contador winning the Giro unopposed by the other three before Froome beat all three to the Tour de France, and only Quintana completed the Vuelta, finishing fourth behind new winner Fabio Aru.