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Ukrainian sanctions against Raiffeisen and UniCredit

Ukrainian sanctions against Raiffeisen and UniCredit

Ukraine has officially designated the Russian leasing companies of the main banks Raiffeisen and Unicredit as “wartime accomplices” and has been subjected to sanctions such as asset confiscation. This stems from a decree issued last night by President Volodymyr Zelensky.

A total of 182 businesses and three people were affected. They are charged with transporting personnel and military equipment by rail on behalf of the aggressor nation.

Companies from Belarus are also on the list

Zelensky said in his video message that the available assets confiscated will benefit the national defense. Belarusian companies that support Russia with transfers are also on the list published in the evening.

Ukraine is working to ensure that other countries also block corporate assets. At the same time, Zelensky thanked “everyone who helps toughen sanctions against Russia” and the investigators who exposed and prosecuted Russian circumvention of punitive measures.

Raiffeisen Bank Austria International (RBI) has long been criticized for its involvement in Russia. The Russian branch of the parent company of Bank Austria, UniCredit, was operated from Vienna until 2016. RBI and UniCredit Austria are Austria’s largest banks after Erste Group.

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