Mykola Storonsky, co-founder and CEO of Revolut, renounced his Russian citizenship as the war in Ukraine continues.

Storonsky, who was born in Russia to a Ukrainian family, was very open about his feelings about the Russian invasion of Ukraine. In March, the fintech CEO published a blog post condemnation of war. In the village posthe called Russia’s actions “terrible” and “unbelievable.”

While the Revolut boss previously held dual UK and Russian passports, the decision to renounce his Russian citizenship was linked to sanctions imposed by the Ukrainian government against his father.

The Ukrainian assets of Mykola Storonsky Sr. were frozen due to his position as CEO of Gazprom Pramgaz, which is part of the Russian state gas company.

Storonsky Jr.’s other Revolut co-founder, Vladislav Yatsenko of Ukraine, shared a volatile message for the entire company on Independence Day of Ukrainedescribing the current situation as “heartbreaking” but offering a reassuring message that peace will be achieved.

“To all Ukrainians, I hope that you and your families are safe and that peace will soon come to free Ukraine. To everyone else, I wish that war never comes to you or to your country,” Yatsenko wrote.

Revolut has sought regulatory approval in the UK for its banking operations as it seeks to become a fully licensed bank. The company was in September approval is given from the Financial Conduct Authority (FCA) over its crypto asset services.

Revolut CEO renounces Russian citizenship

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