The Ukrainian government no longer classifies the RBI as an international supporter of the Russian war of aggression. The previous status was “suspended,” Ukraine’s National Agency for the Prevention of Corruption (NASK) said on its website late on Saturday.
“The statute is suspended during the period of bilateral consultations involving representatives of the European Commission,” stated the agency. The article with allegations against the RBI was no longer available.
The RBI was added to the Ukrainian “list of international sponsors of terrorism” in the spring. The reason given was the bank's activities in Russia and the official recognition of the “people's republics” of Donetsk and Luhansk by the Russian subsidiary of the RBI. Furthermore, reference was made to the lack of measures by the RBI to divest from its activities in Russia.
Largest Western bank still in Russia
Ukrainians want to use the list to expose companies that continue to do business in Russia after the Russian invasion and promote war, for example, by paying taxes in the country. RBI is the largest Western bank still represented in Russia – and the only Austrian one on the list. The document has no legal value, but is symbolically important.
The RBI is struggling with Russia's announced withdrawal. CEO Johann Strobl recently stated that a spin-off at the turn of the year would probably not work. The bank must first exhaust sales possibilities – this may be the easiest way.
According to one source, Foreign Minister Alexander Schallenberg (ÖVP) openly criticized the list as “arbitrary” at a ministerial meeting in Kiev. The government has also expressed its concerns in discussions with EU representatives and diplomats in recent weeks. RBI representatives also met with representatives of the Ukrainian authorities.
Suspected connection
EU diplomats told the Portal news agency on Thursday that Austria had campaigned to be removed from the list. The federal government is making this a condition of agreeing to new EU sanctions against Russia, insiders said on Thursday.
Austria submitted an examination reservation before reaching agreement on the package. Federal Chancellor Karl Nehammer (ÖVP) justified this on Friday by saying that the latest version was only delivered on Thursday. However, the decision on the sanctions package was taken with Austria's consent. “The sanctions were therefore accepted. The RBI was definitely not an issue at the Council of Heads of Government yesterday,” Nehammer said.
A council spokeswoman said on Friday that Austria had withdrawn this “review reservation” and agreed with the conclusions. This paved the way for a formal decision by EU ministers.
Diamond import ban
The twelfth package of sanctions against Russia provides for the introduction of a ban on diamond imports and an increase in the price limit for Russian oil exports to third countries, which has recently had little effect. Trade restrictions and punitive measures against people and organizations that support Russia's war of aggression against Ukraine are also planned for other goods.
Unlike Britain, the EU had not previously imposed a ban on diamond imports from Russia. For a long time, the main reason was resistance from Belgium, where the Flemish port city of Antwerp has been one of the most important diamond centers in the world since the 16th century. Russia is considered the world's largest producer of rough diamonds. In 2021, the state diamond mining company Alrosa had revenues of 332 billion rubles (about 3.41 billion euros).
The latest package of sanctions came into force in June. For example, it included an instrument against the evasion of sanctions already imposed. There has long been a ban on imports of crude oil, coal, steel, gold and luxury goods, as well as punitive measures against banks and financial institutions.