RT.com
25 Mar 2023, 00:13 GMT+10
The move comes in response to Raiffeisen Bank's decision to maintain business operations in Russia
Ukraine's National Agency on Corruption Prevention (NACP) has included Austrian banking group Raiffeisen in its list of international sponsors of war.
According to an agency statement on Thursday, the designation is due to the continued operation of the European bank in Russia and to its official recognition (through its representative office) of the Donetsk People's Republic (DPR) and Luhansk People's Republic (LPR), which were recognized by Moscow as independent states in February 2022.
NACP expressed discontent with the fact that the Russian branch of Raiffeisen provides favorable credit terms to the Russian military, and that it also uses the wording 'special military operation' in its documents.
The Ukrainian agency has included in its notorious list German wholesaler Metro, French retailer Auchan, Italian cement company Buzzi Unicem, and others for the same reason.
Meanwhile, according to media reports, Raiffeisen has also come under pressure from the European Central Bank (ECB), which is urging the Austrian banking group to quit the Russian market. The ECB has been pressuring it to develop a plan for unwinding its business in the sanctioned country, with one of the options being a sale or closure of its Russian affiliate, Reuters reports.
Raiffeisen, which has been operating in Russia since 1996, plays a critical role in the country's economy, providing a lifeline for euro payments to and from Russia. It's one of only two foreign banks on the Russian Central Bank's list of 13 systemically important credit institutions, the other being Italy's UniCredit.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Middle East Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Middle East Star.
More InformationDUBLIN, Ireland: Taoiseach Leo Varadkar has said that Intel's new factory in Co Kildare will play a "strategic" role in ...
LONDON, UK: This week, the Global Financial Centers index showed that New York remains the world's leading financial center, with ...
LONDON, UK: This week, Adidas' newest running shoes, the Adizero Adios Pro Evo 1, went on sale for US$500. Worn ...
© Provided by Xinhua The Regional Comprehensive Economic Partnership agreement has been a key driving force for the kingdom's export ...
ABUJA, Oct. 2 (Xinhua) -- Nigerian President Bola Tinubu on Sunday pledged to oversee a thorough housecleaning of the country's ...
BANGKOK, Oct. 2 (Xinhua) -- Thailand's business sentiment improved in September due to increased confidence in the manufacturing sector, while ...
JAKARTA, Indonesia - According to Asian diplomats and the Philippines' president, Southeast Asian leaders have decided that Myanmar will not ...
NEW LONDON, Connecticut: Video footage taken deep in the Pacific Ocean provided the first detailed view of three World War ...
CUSTER STATE PARK, South Dakota: As part of an annual effort to maintain the health of the species, which has ...
TASHKENT, Uzbekistan: Uzbek authorities said a powerful explosion on September 28 at a warehouse near Tashkent's airport killed one person ...
TALLAHASSEE, Florida: The Florida Lottery said this week that the second-largest lottery winner in U.S. history has come forward to ...
LONDON, UK: This week, the Global Financial Centers index showed that New York remains the world's leading financial center, with ...