Austria is frustrated by the OTP case, they are also getting tough

By RockedBuzz 3 Min Read

According to latest reviews, the Austrians need Ukraine to take away Raiffeisen Bank International from the blacklist. The transfer is seen as a situation for Austria to approve new EU sanctions in opposition to Russia, in line with sources conversant in the matter.

In the previous, there have been related circles at dwelling in reference to the OTP, we wrote about this in additional element right here:

The financial institution and Austria are calling for the financial institution to be faraway from Ukraine’s listing of so-called “worldwide supporters of conflict,” which goals to publicly condemn firms that do enterprise in Russia and not directly help the conflict effort, similar to by paying taxes.

Austrian officers have raised issues about the listing in latest conferences with EU officers and diplomats in Brussels, three individuals conversant in the matter stated. The financial institution’s representatives also met with members of the National Corruption Prevention Agency of Ukraine, which compiled the listing, to debate how the financial institution may very well be faraway from the listing. Raiffeisen is presently the solely Austrian firm on the listing.

In the previous, a number of firms have been faraway from this listing, together with the Hungarian OTP Bank – this resolution frustrated each Austrian officers and Raiffeisen Bank, the sources declare. A spokesman for Raiffeisen stated: “We suppose it is unfair that we are on the listing.”

While Austria publicly helps Ukraine, a number of officers, talking on situation of anonymity, indicated that it is hesitant to fully sever longstanding ties with Russia. They imagine that it’s going to nonetheless be doable to revive relations in the future.

The presence of Raiffeisen underlines the depth of the relations between Austria and Russia. The two nations preserve shut ties via Russian fuel pipelines and monetary sectors; Vienna serves as a hub for cash flows from Russia and former Soviet neighbors, reviews Reuters.

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More than 21 months into the conflict, Ukraine is discovering it more and more troublesome to keep up robust help from its Western allies, who’ve supplied billions of {dollars} in monetary and navy support and backed sweeping sanctions in opposition to Russia. Kiev hopes to obtain two large-scale support packages from the United States and the European Union subsequent yr. However, these packages have met with political opposition and are presently the topic of debate.

Source: Reuters

Cover picture supply: Getty Images

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