Austria has endorsed the 12th package of European Union sanctions on Russia. This decision comes following Ukraine’s removal of Raiffeisen Bank International (RBI) from a symbolic blacklist, according to Ukraine’s government website and an EU diplomat, Reuters says.
Austria had been advocating for the removal of RBI from Ukraine’s list of “international sponsors of war,” aimed at pressuring companies doing business in Russia. While the blacklist has no legal standing, it holds symbolic significance, putting pressure on RBI to withdraw from Russia, a step the Austrian bank has expressed willingness to take.
Austria had sought the removal of RBI from the blacklist as a condition for approving the latest EU sanctions against Russia. RBI had previously intended to spin off its Russian business, which serves as a financial lifeline to numerous companies, in response to international regulatory pressures.
- Reuters: Austria seeks removal of Raiffeisen from Ukraine blacklist in exchange for Russia sanctions support
- Russia seeks to expand aviation partnership with seven countries to bypass sanctions
- Austria provided humanitarian aid to Ukrainian rescuers
- Japan expands sanctions over Russia’s war in Ukraine
- Austria to finance demining equipment for Ukraine
- UK escalates sanctions against Russia, targeting metal and diamond imports
- Bloomberg: Russia’s oil export income surges despite sanctions, fueling war effort