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Russian Revolut CEO: criticized the war and stood to support Ukraine 

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  • Nikolay Storonsky, the Russian CEO of Revolut, has written a letter criticizing the violence in Ukraine.
  • Revolut had taken action, allowing clients to donate to relief efforts in Ukraine via its app and eliminating transfer costs to Ukraine.

Revolut’s other co-founder and CTO, Ukrainian Vlad Yatsenko, has previously openly opposed Russian President Vladimir Putin’s conduct after he ordered his soldiers to invade Ukraine on February 24.

It is the first time Storonsky, a millionaire entrepreneur born in Russia with a Ukrainian father, has stated his position on the war. He is also a British citizen.

Action to donate

Revolut had also taken action, allowing clients to donate to relief efforts in Ukraine via its app and eliminating transfer costs to Ukraine.

Storonsky stated in his letter that Revolut customers have given more than £1 million to Red Cross Ukraine’s appeal in less than 24 hours and promised to match every pound, euro, zloty, or franc contributed over the following seven days, up to £1.5 million.

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Well being of Russians

Some of Revolut’s 2,150 employees are situated in Russia and Ukraine, and Storonsky stated in his letter that he needed to consider the well-being of those working in Russia before making any statements about the conflict.

“They have done nothing illegal; they have just contributed to the development of Revolut, supporting their own families through hard labor, just like their colleagues in Ukraine” (or London or New York or Sydney or Mumbai, or anywhere else in the world where our people are based). “I was and continue to be conscious of them in all of my acts,” he stated.

Since the start of the Ukrainian conflict, fintech remittance companies such as Wise, Zeps, TransferGo, and Remitly have ceased their operations in Russia. Revolut is yet to catch up.

Nancy J. Allen
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