Austria unblocks 12th EU sanctions package after Raiffeisen suspended from war sponsor list

As the 12th EU Russia sanctions package is approaching, Austria has been standing against the decision by blackmailing Ukraine to unblock its Raiffeisen bank from the war sponsor list.

Yet, Ukraine removed the bank from a blacklist, the government website and an EU diplomat said.

The EU summit decision contained the phrase that the EU "welcomes the adoption" of the 12th package of sanctions.

Raiffeisen is one of the most important financial channels Russian businesses use to conduct transactions. The bank makes huge profits and finances Russia's state budget.

Hungary has also been blocking the allocation of 500 million euros from the European Peace Fund for months, which is used to finance aid for Ukraine. Ukraine's government has put Hungary's largest bank, OTP Bank, on the list of "war sponsors."

Ukraine removed the bank from the list, satisfying one of Budapest's key demands.

The EU intends to introduce the 12th package by the end of December. It includes a ban on the supply of machines that can be used for weapons production. The EU also wants to ban imports of liquid propane, cast iron, copper and aluminum wire, foil, and pipes.

The key point of the package remains the embargo on Russian diamonds starting January 1, 2024. The EU also plans to gradually ban imports of Russian diamonds that have been processed in third countries.