Copyright © 2021 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Austria clears EU’s Russia sanctions after Ukraine removes Raiffeisen from blacklist

Austria supports the 12th EU sanctions package on Russia, after Ukraine removes Raiffeisen Bank International from a symbolic blacklist. The bank was the only Austrian company on the list.
A logo of the Raiffeisen bank in front of the Russian Ministry of Foreign Affairs in Moscow. File photo: TASS
Austria clears EU’s Russia sanctions after Ukraine removes Raiffeisen from blacklist

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’s sanctions reservation is lifted,” an EU diplomat told Reuters.

Reuters: Austria seeks removal of Raiffeisen from Ukraine blacklist in exchange for Russia sanctions support

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.

“The status is suspended for the period of bilateral consultations involving representatives of the European Commission,” the Ukrainian government website reported on Raiffeisen’s status on 16 December.

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.

Raiffeisen was the only Austrian company on the list.

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here


    Total
    0
    Shares
    Related Posts