7.8 C
London
Thursday, December 12, 2024
HomeArchiveBillionaire Igor Makarov renounces Russian citizenship

Billionaire Igor Makarov renounces Russian citizenship

Date:

Related stories

Gazprom Maintains Stable Gas Deliveries to Europe, Sending 42.3 Million m³ on Monday

Brussels, October 14 (FinanceFlashNews.com) – Gazprom, Russia’s gas producer,...

Markets Anticipate Faster ECB Rate Cuts as Eurozone Inflation Falls

Frankfurt, October 14 (FinanceFlashNews.com) – Financial markets are predicting...

Tax Hike in France Will Hurt Investments, Warns Stellantis CEO

Paris, October 14 (FinanceFlashNews.com) – The French government's plan...

Finland’s Inflation Drops to Lowest Level in Nearly Four Years

Helsinki, October 14 (FinanceFlashNews.com) – Year-on-year inflation in Finland...

Moody’s Downgrades Belgium’s Credit Outlook to Negative

Brussels, October 13 (FinanceFlashNews.com) – Moody's Ratings downgraded Belgium’s...

Billionaire and founder of energy company Areti Igor Makarov renounced his Russian citizenship, according to a report on the website of the American magazine Forbes. Makarov kept only Cypriot citizenship, which he obtained in exchange for investments in Cyprus.

Why did Makarov decide to do so?

The reasons why Makarov decided to renounce his Russian citizenship are not known. However, this is not the first case when a Russian billionaire made such a step. In October 2022, Oleg Tinkov, founder of Tinkoff bank and TCS Group, also renounced his Russian citizenship. Tinkov cited the Ukrainian war and “Putin’s fascism” as the reason.

What will Makarov lose?

Renouncing his Russian citizenship may have several consequences for Makarov. On the one hand, he could lose some benefits and rights associated with Russian citizenship, such as the possibility of voting or participating in public functions. On the other hand, he could gain more freedom of movement and business in the European Union and other countries that have agreements with Cyprus on visa-free travel or tax breaks.

Who is Igor Makarov?

Igor Makarov is one of the richest people in the world, who ranked 1368th in the Forbes magazine’s list of billionaires in 2023. He owns assets worth 2.1 billion dollars and lives in Miami, Florida. He is married and has two children. In addition to his business activities, he is also an avid cyclist and honorary president of the Russian Cycling Federation.


Sources:

: https://www.forbes.com/profile/igor-makarov/

: https://twitter.com/InsiderEng/status/1674465713564659713

: https://www.archyde.com/russian-billionaire-igor-makarov-renounces-citizenship-latest-updates-forbes-rankings-and-international-sanctions/

: https://theins.ru/en/news/263044

: https://en.wikipedia.org/wiki/Oleg_Tinkov

Photo: Kremlin.ru, CC BY 4.0 https://creativecommons.org/licenses/by/4.0, via Wikimedia Commons

Financeflashnewshttps://financeflashnews.com
This article was written by the editorial team of Financeflashnews. We strive to provide you with accurate and up-to-date information from the world of finance and investment. If you find any errors in the article, please let us know at corrections@financeflashnews.com. Your feedback is valuable to us and will help us improve the quality of our content.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories