Russian billionaire relieved of his Estonian citizenship

17.02.2012, 10:25

Russian businessman Maxim Liksutov who had extensive business in Estonia and for years was in the top of Estonian richlist has been stripped of his Estonian citizenship on his own application.

Liksutov who is now working as City of Moscow's director of transport, he had been granted citizenship by the Estonian government in 2005 to recognize his contribution in boosting Estonia's exports.

He was asked to to surrender his Estonian citizenship by Estonia authorities after they learned that Liksutov had additionally acquired Russian citizenship and double citizenship is generally not permitted in Estonia.

Born in Estonia, Liksutov is also a successful athlete who has represented his native country in numerous international competitions.

Forbes Magazine estimated last year that the railroad mogul's assets amounted to 500 million US dollars, placing Liksutov as the 189th richest person in Russia. His business partners include Iskander Makhmudov, the 12th richest.