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A Russian oligarch who has maintained high-level influence in Moscow since the close of the Cold War resigned his seat in Russian parliament Tuesday after the National Post revealed he held dual citizenship and had extensive assets in Canada.

Vitaly Malkin tried for almost 20 years to relocate to Canada, investing millions in Toronto, but had been turned away over alleged ties to organized crime. During his failed immigration process he told Canadian officials he had Israeli citizenship and extensive foreign investments.

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The Post revealed his past on March 5and the news ignited a storm of controversy in Moscow because Russian law bars lawmakers from holding dual citizenship and owning undeclared foreign investments.

Mr. Malkin, once listed as one of the world’s wealthiest men, held a seat in the Russian upper house since 2004.

In announcing his resignation from the senate, Mr. Malkin said he has done nothing wrong. He told Russian media he no longer holds Israeli citizenship and was resigning to protect the image of the senate.