Renunciation of Russian citizenship did not help Revolut startup founder Nikolai Storonsky to obtain a banking license in the UK

It became known that the British regulator does not plan to issue a banking license to Nikolai Storonsky’s Revolut startup in the near future. He is embarrassed by the turnover of staff, ties with Russia and the late filing of reports by the company. Revolut employees also complained about the difficult working conditions, which the company calls a “culture of high productivity.”

Nikolai Storonsky studied at the Moscow Institute of Physics and Technology, and he founded the startup Revolut in 2015 together with Ukrainian Vlad Yatsenko. Last year, the businessman decided refusalabstain from Russian citizenship. However, this did not seem to help him solve the banking license problem. At the same time, the startup filed an application for a license back in 2021.

In 2022, Nikolai Storonsky stated that he opposed the Russian special operation in Ukraine. And his father, the CEO of JSC Gazprom Promgaz, was included in the sanctions list by the Ukrainians. True, representatives of Storonsky said that he had renounced Russian citizenship before that.

Last year from Russian citizenship refusalthere were several billionaires. Among them are Ruben Vardanyan with a fortune of $1 billion, Yuri Milner with a fortune of $7.3 billion and Timur Turlov, who lived in Kazakhstan for many years. The founder of the investment company Freedom Finance, Turlov, noted that he had renounced Russian citizenship due to the fact that he would receive a passport of a citizen of Kazakhstan. In this country, citizens must have only one citizenship.