Revolut’s Russian co-founder decries the ongoing war in Ukraine

• Revolut CEO Nik Storonsky explained that he decided to exercise caution in his public comments and actions for the welfare of Revolut’s Russian staff
• His Ukrainian co-founder Vlad Yatsenko critiqued President Putin last week over the attack on Ukraine

Following a period of reticence, the CEO of London-based fintech firm Revolut Nikolay Storonsky has established an anti-war standing over the ongoing invasion of Russia into Ukraine. The Russian billionaire co-founded Revolut with his Ukrainian partner Vlad Yatsenko, who serves as the CTO of the financial services company.

Storonsky expressed his disappointment in the Russia-Ukraine conflict taking a war route via a personal letter published in a blog post yesterday. He averred that the war between the two countries would never be an answer and called for an immediate resolution to end the same.

“This war is wrong and totally abhorrent. I am horrified and appalled at its impact, and I add my voice to those around the world calling for an immediate end to the fighting, and a commitment to diplomatic solutions. Not one more person should die in this needless conflict,” Storonsky proclaimed. 

The Revolut co-founder explained that he decided to be reserved on the matter for the wellbeing of Revolut staff working in Russia. Storonsky said that the firm’s Russian personnel are not part of this conflict, and as such, he had to remain conscious of them in his actions.

“In choosing what to do or say publicly, however, I also had to first consider the wellbeing of our colleagues in Russia. They have done nothing wrong; they have simply helped build Revolut…” he noted.

Actions over words

The Revolut CEO also revealed that his firm had already moved forward with efforts to assist Ukraine. The firm is facilitating fee-free customer donations to relief work by Red Cross Ukraine. Storonsky says the donations hit £1 million in 24 hours and pledged that Revolut would match customer donations up to £1.5 million over the next week.

“For every pound or euro or złoty or franc donated by a Revolut customer to the appeal, Revolut will donate the same again, from today for the next 7 days, up to £1.5m,” he added.

Unlike Storonsky, who took a subtle approach on the matter, co-founder Vlad Yatsenko has been very vocal against Russia. Last week, he lambasted President Vladimir Putin, labelling him a brazen liar for his actions.

“I hope most Russians will finally be able to see that their president is one of the most brazen liars in history… Using the overtones of ‘defending’ the Russians, Putin attacked a peaceful Ukraine. Ukraine is and will be free!” he tweeted last Thursday.