The National Agency for the Prevention of Corruption (NAPC) has suspended the status of an international war sponsor for the Austrian Raiffeisen Bank International (in Ukraine, this institution operates under the name Raiffeisen Bank Aval).
Ukraine has suspended the status of Raiffeisen Bank as an international war sponsor
According to the agency's website, NAPC has suspended the status of an international war sponsor for the Austrian Raiffeisen Bank for bilateral consultations involving representatives of the European Commission.
Earlier, Austria threatened to block the adoption of the 12th EU sanctions package against Russia until their financial structure is removed from the list of international war sponsors.
This list, compiled by NAPC, shows which international companies continue to do business in Russia and support the war, for example, by paying taxes to the Russian budget.
The list is not legally binding, but companies included in it may be subject to public pressure. Raiffeisen Bank has already announced that it intends to leave Russia, but this has not happened. The Austrian bank was included in the NAPC list in March of this year.
As Reuters writes, back in October, Austrian Foreign Minister Alexander Schallenberg criticized this list. Austria sought the exclusion of its bank from the list of the National Security Agency in exchange for adopting another package of sanctions against Russia. Based on the notification of the NAPC, Ukraine made concessions to Austria in this matter. Raiffeisen Bank is the only company from Austria included in the "blocklist" of the NAPC.
What is known about Austria's relations with the Russian Federation
Although Austria has publicly supported Ukraine, several officials who spoke to Reuters said they did not want to completely sever decades-old ties with Russia, believing relations could still be restored.
Raiffeisen's presence underscores the depth of relations between Austria and Russia, which maintain close ties through Russian gas pipelines and finance. Vienna is a hub for money from Russia and its former Soviet neighbours.
While the blocklist is not legally binding, it increases public pressure on Raiffeisen to pull out of Russia, which bank officials say they are willing to do but have not yet done.
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