By
Steve Muchoki
March 12th, 2024
Revolut advocated for an immediate ceasefire, noting that war can never be a solution to any form of diplomatic row.
Nikolay Storonsky, the Chief Executive Officer (CEO) of Revolut, a British financial technology company that offers banking services on a retail scale has broken his silence over the ongoing Russian-Ukrainian war.
While many have been wondering why Storonsky, a man of mixed nationalities as he is born in Russia to a Ukrainian father have not made a comment since the first invasion on February 24, he said via a blog post that his silence was based on his effort to consider the well-being of his staff in Russia and Ukraine.
“For me, as for so many, the idea of a war between Russia and Ukraine is not just horrifying, it is almost impossible to believe. As recently as last week, I was still convinced that a diplomatic solution would be reached, and it was with complete disbelief and sadness that I looked on at the violence of this past week,” Storonsky wrote in the blog post. “At that time – while still hoping that it would never actually come to war – my focus, just like my colleagues’, was on the safety and wellbeing of our people in Ukraine. I don’t need to repeat what we’ve already said about our efforts to keep them safe, but I would like to thank all Revoluters who have worked so tirelessly on their behalf. And I want our people in Ukraine to know that they are my top priority.”
The Revolut boss said he never expected the diplomatic row would degenerate into a war as he believes both Russians and Ukrainians are kinsmen. In lending credibility to this stance, the other co-founder of Revolut, Vladyslav Yatsenko is a Ukrainian, and Storonsky said that their individual nationalities did not matter at the time they were starting Revolut.
In essence, Revolut advocated for an immediate ceasefire, noting that war can never be a solution to any form of diplomatic row.
“I would like to make clear, publicly, what I’ve felt privately from day one: war is never the answer,” Storonsky wrote in the open letter, describing the war as “wrong and totally abhorrent,” and called for an immediate end to the fighting.
Revolut CEO Detailed Aid Package for Ukraine
While Revolut has not halted its services to Russia when compared to the move from its major competitors including Wise PLC (LON: WISE) and TransferGo amongst others, it has joined in helping its app users to donate relief funds to the humanitarian programs in Ukraine.
Revolut has also removed all forms of fees for funds transferred to banks in Ukraine and confirmed that its customers have donated a total of £1 million thus far. As affirmed by the CEO, the company will match all the donations made through its app in the next 7 days up to a maximum of £1.5 million. In all, Storonsky believes action is what is required from all parties in order to help restore peace in the region.