NAPC suspended Raiffeisen’s status as a war sponsor | News of Ukraine

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Austria has dropped its objections to a new round of sanctions in exchange for its largest bank being removed from the NACP blacklist

Andrey Vodyany

Senior news editor

06:13

Ukraine suspended Raiffeisen from the list of war sponsors Photo: EPA

The National Agency for the Prevention of Corruption has suspended the Austrian banking group Raiffeisen Bank International from its list of international war sponsors. This is reported on NAPC website.

The Raiffeisen Bank profile is now blocked, and a note appears next to its name: “Status SUSPENDED for the period of bilateral consultations with the involvement of representatives of the European Commission.”

Raiffeisen Bank International was on the “shameful” list of war sponsors in March 2023. The basis for this was the RBI’s decision to continue operating in Russia, where the local Raiffeisen is considered one of the systemically important banks. In addition to the fact that Raiffeisen is one of the few European banks that continues to operate in the Russian Federation, the bank also “took 200% advantage of the sanctions” that led to the exit of its competitors from the Russian market, NAPC indicated.

The change in Raiffeisen Bank’s status occurred simultaneously with Austria’s withdrawal of objections to the final adoption of the 12th package of sanctions.

Austria has repeatedly expressed dissatisfaction with Raiffeisen’s presence on this list and, according to unofficial data, because of this it has slowed down the adoption of EU sanctions against Russia. On the night of December 15, the Chancellor of Austria Karl Nehammer even left the hallwhere the European Union summit took place, while new sanctions were being agreed upon.

Raiffeisen Bank is the only Austrian company on the NAPC list.

Being listed as an international war sponsor is a reputational tool.

All listed companies are included in the World-Check database, which records high-risk individuals and organizations and is used around the world to identify and manage financial, regulatory and reputational risks.

  • In October, Ukraine excluded OTP Bank from the list of war sponsors due to Hungarian claims. Hungarian OTP was on the list of international sponsors of the war from May 2023. The decision was made due to the position of the bank’s management to continue operating in Russia and the actual recognition of Russia’s annexation of the Lugansk and Donetsk regions of Ukraine.
  • Raiffeisen Bank International was added to the list of international war sponsors back in March. In November 2023, it became known that the Austrian Raiffeisen postponed its exit from the Russian market.

Source: liga.net

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