Yet another Russian billionaire has renounced his citizenship amid fallout from the country’s invasion of Ukraine.
According to, gas tycoon Igor Makarov was the latest to break away; he gave up his citizenship earlier this year.
Makarovreceived a “golden passport” from Cyprus more than a decade ago—a fast-tracked citizenship process geared toward wealthy investors. Last year, he was sanctioned by Canada as one of 14 “close associates of the Russian regime” who allegedly had “complicity in Russia’s unjustifiable invasion of Ukraine.” He was sanctioned by Australia and the U.K.
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