A Russian oligarch was forced by Russian President Vladimir Putin’s administration into selling his entire stake in the bank he founded after he publicly criticized Russia’s war in Ukraine on Insta…
A Russian oligarch was forced by Russian President Vladimir Putin’s administration into selling his entire stake in the bank he founded after he publicly criticized Russia’s war in Ukraine on Instagram last month.
His 35 percent stake was valued at more than $20 billion on the London stock exchange last year, according to The Times. Without revealing the price, he said he sold his stake for a lowly 3 percent of what he believed to be its true value. The bank, which announced that Tinkov had sold his entire stake in the company on Thursday, did not agree with his narrative of how the deal went down, telling The Times in a statement there were “no threats of any kind against the bank’s leadership.”
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