VIENNA, Jan 29 (Reuters) – A Russian leasing unit of Austrian lender Raiffeisen Financial institution Worldwide (RBIV.VI) is among the many corporations focused by sanctions that Ukraine introduced in a single day, RBI mentioned on Sunday.
Ukrainian President Volodymyr Zelenskiy introduced a wave of sanctions in a single day focusing on 182 Russian and Belarusian corporations together with three people. The businesses primarily take care of items transportation, automobile leasing and chemical manufacturing.
RBI operates each in Russia and Ukraine and earns about half its revenue in Russia, making it one of many European banks most uncovered to that market. Ukraine typically calls on corporations together with RBI to depart Russia, although its newest sanctions are unlikely to have a big influence on RBI’s Russian enterprise.
“The political choice of the Ukrainian authorities to place round 30 Russian leasing corporations, together with Raiffeisen Leasing Russia, on a sanctions checklist implies that leased items of Raiffeisen Leasing Russia’s prospects might be confiscated on Ukrainian territory,” an RBI spokesperson mentioned.
The corporate leases gadgets together with automobiles and forklift vans.
“Raiffeisen Leasing Russia is a completely owned subsidiary of Raiffeisenbank Russia. The leasing quantity it financed amounted to 362 million euros ($393 million) on the finish of December 2022. It has not concluded any new leasing contracts for the reason that outbreak of the warfare,” the spokesperson added.
($1 = 0.9202 euros)
Reporting by Alexandra Schwarz-Goerlich; Writing by Francois Murphy; Modifying by Toby Chopra
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