The Ukrainian Agency for the Prevention of Corruption (NACP) announced the suspension of the status of Raiffeisen Bank in their list of “international war sponsors”. In response to this, according to Reuters sources, the Austrian authorities agreed to approve the 12th package of sanctions against Russia.
“The bank’s status is suspended during interstate consultations, including representatives of the European Commission,” says the NAPC website.
The agency added the Raiffeisen Bank International group to the list of “war sponsors” in the spring of 2023 due to the fact that its Russian division continued to operate after the outbreak of war and made record profits on transfer commissions.
“Being included in the [NAPC] list has no legal consequences, but is important symbolically, as it increases pressure on the company to leave Russia,” notes Reuters.
In March 2022, representatives of the Austrian banking group said that they were allowing a “carefully thought out exit” from Russia. A year later, the US Treasury Office responsible for sanctions enforcement (OFAC) began an investigation against Raiffeisen Bank due to business in Russia. The leadership of the European Central Bank, as Reuters claimed, also “pressured” the bank to “wind down” its Russian office.
At the same time, according to the news agency, the management of the banking group is postponing the decision to exit the Russian business pending the end of the war.