Ukraine refuses to remove Raiffeisen Bank from the list of international war sponsors – Reuters
Ukraine refused to remove Raiffeisen Bank from the list of war sponsors, calling on the largest Western bank in Russia to cut its ties with Moscow.
This was reported by Reuters.
It is noted that in a letter sent to Raiffeisen in early February 2024, Ukrainian officials questioned whether the bank was doing everything possible to exit the Russian market, saying that “most of its plans are vague and incomplete.” This correspondence increases the pressure on one of the largest Austrian banks and increases tensions between Kyiv and Austria.
“A number of blind spots still remain. There is no deadline for the sale,” Ukrainian officials wrote in the letter, saying that this prevented the bank from being removed from the list.
According to the publication, Raiffeisen intended to spin off its Russian business in 2023, but this has not happened yet. In turn, the bank’s representative said that they could not name a time frame for withdrawal from Russia.
It is worth noting that on December 17, the National Agency for the Prevention of Corruption suspended the status of an international war sponsor for the Raiffeisen Bank International banking group. In this way, Ukraine made concessions to the Austrian government, which blackmailed it by refusing to vote for the 12th package of sanctions against Russia. Raiffeisen Bank was on the list of international sponsors of war, but with the note “status suspended for the period of bilateral consultations with the involvement of representatives of the European Commission.”
Why Raiffeisen Bank is an international sponsor of war
The Raiffeisen Bank Group was included in the list of international sponsors of the war back in March 2023. The NAPC noted at the time that the bank’s Russian subsidiary pays huge amounts of taxes to the Russian budget, and this money is used to finance the war against Ukraine.
In addition, the Russian Raiffeisen Bank officially recognized the so-called “LPR” and “DPR” and called the war in Ukraine a “special operation” on its website and in the documents of its Russian representative office. The bank also directly assists the Russian occupiers by offering loan repayment holidays and preferential loans to mobilized Russians.
In early January, the National Agency for the Prevention of Corruption added seafood producer and supplier Viciunai Group, better known as Vici, to the list of international sponsors of the war. After the start of Russia’s full-scale invasion of Ukraine, representatives of the Viciunai Group promised that the company would withdraw from the Russian market. Vici, on the other hand, has not shut down its production facilities in the Russian Federation and remains one of the most favorite brands among Russian consumers.
