Russian Billionaire Igor Makаров Renounces Russian Citizenship

The founder and head of the energy company 'Aretė', Russian billionaire Igor Makarov's citizenship information in the Forbes profile has changed. According to this update, Makarov now holds only Cypriot citizenship. He renounced his Russian passport in 2023.

Makarov has not announced his renunciation of Russian citizenship. Russian Forbes sent an inquiry to the businessman's representative but did not receive a response.

In September 2022, Igor Makarov was included in a list published by the Politic newspaper, consisting of Russians and Ukrainians who were previously classified as confidential by authorities. This list was compiled due to the suspicious individuals identified by the Cypriot government in relation to the granting of 'golden passports' in exchange for investments between 2008 and 2012.

As of the time of publication, Makarov ranks 1468th in Forbes’ list of the world's richest people, with a net worth of $2.1 billion, primarily based on investments in Western markets. Following the onset of the special operation in Ukraine, Britain, Canada, Australia, and New Zealand imposed sanctions against Makarov.