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They recognize the so-called "L/DNR" and help the Russian Federation to maintain the economy: the NACP included Raiffeisen Bank International in the list of international sponsors of the war

23.03.2023
They recognize the so-called "L/DNR" and help the Russian Federation to maintain the economy: the NACP included Raiffeisen Bank International in the list of international sponsors of the war
The National Agency on Corruption Prevention (NACP) included the Austrian banking group Raiffeisen Bank International in the list of international sponsors of the war. One of the largest Austrian banking groups operates in 14 countries of Central and Eastern Europe, serving 17.2 million customers. The reason for inclusion in the list of international sponsors of the war was that, in addition to the fact that the bank continued to work in Russia after the Russian invasion of Ukraine, Raiffeisen also officially recognized the so-called "LNR" and "DNR". Raiffeisen has been operating in Moscow since 1996 and is included in the list of systemically important Russian banks, which emphasizes its importance for the Russian economy, which is struggling with sanctions from the democratic world. In addition to the fact that Raiffeisen is one of the few European banks that continue to operate in the Russian Federation, the bank also took advantage of the sanctions by 200%, which led to the exit of its competitors from the Russian market. Today, Raiffeisen is one of the most important financial channels in which Russian business entities conduct transactions in dollars and euros. Thus, the bank receives huge profits, from which it then finances the budget of the aggressor country with its taxes. In the fall of 2022, the reporting showed that in the third quarter, the Russian Raiffeisen Bank broke the net profit record, earning €790 million. Compared to the previous year, this indicator increased four times. The Russian subsidiary of the bank accounted for almost 70% of the net profit of the entire group. The bank paid 4.8 times more to the Russian budget in 2022 than for the entire pre-war year. The Russian division of Raiffeisen Bank paid €559 million to the budget of the Russian Federation. This is equal to the cost of about 95 Caliber missiles, which the terrorist state regularly fires at peaceful Ukrainian cities. In particular, Raiffeisen not only officially recognizes the so-called Donetsk and Luhansk "people's republics" through its Russian representative office, but also provides favorable credit terms to the Russian occupiers (credit holidays and soft loans), effectively rewarding the Russian military for their war crimes. In addition, the bank plays along with Russian propaganda, calling the war a "special military operation." The National Bank of Ukraine notes the lack of progress on the way of making decisions regarding the bank's exit from the Russian market. On the contrary, Raiffeisen Bank remains an active participant in the banking market of Russia, competing for an increase in the loan portfolio. Thus, all these facts and the continuation of operations of Raiffeisen Bank in Russia mean direct support and sponsorship of terrorism.
They recognize the so-called "L/DNR" and help the Russian Federation to maintain the economy: the NACP included Raiffeisen Bank International in the list of international sponsors of the war

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