The head of the Russian subsidiary Raiffeisen is now on the Ukrainian sanctions list. Meanwhile, many Austrian companies continue to operate in Ukraine.
Ukraine continues to crack down on Western companies in Russia. Now, after the Raiffeisen leasing subsidiary, the head of the local Raiffeisen bank, Sergej Monin, is himself on the sanctions list. This banned him from doing business in Ukraine for many years. In addition, all assets in the country will be frozen. However, the measure is rather symbolic, as Monin’s activities in Ukraine are not known.
Monin’s name was previously on a sanctions wish list with a total of 11 managers from the Raiffeisen Group, which the state-run Ukrainian “National Agency for the Prevention of Corruption” (NASK) had published.
share price fell
Raiffeisenbank shares reacted sensitively to recent negative headlines about doing business in Russia. Sometimes investors sent the newspaper down by as much as eight percent on Monday. The problems in Russia also make some companies think about an exit there, which is often difficult.
The motto in Ukraine, on the other hand, is to stand firm. About 200 Austrian branches there have been affected by the war, but remain in the country. 42 percent are even fully operational, others are limited. Well-known companies in the Ukraine are Fischer Ski, Agrana and the insurers Uniqa and Wr. urban.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
