Media say Austria continues to block EU's 12th package of sanctions against Russia

Though the European Council has greeted the European Union’s proposed 12th package of sanctions against Russia, Austria continues to block its implementation because Austrian Raiffeisen Bank was included in the list of sponsors of war in Ukraine.

Source: EUobserver, citing EU sources; Rikard Jozwiak, Radio Liberty journalist, on X

Details: A source told EUobserver that Austria imposed a "study reserve", which is when a national capital requests extra time to look at legal small print before signing a EU decision. The study reserve "could be lifted on Monday or early next week," the source added.

"EU [summit] conclusions are political statements, not legally binding decisions," the source also said.

A Ukrainian source told EUobserver that Austria imposed a study reserve because it wants to convince other signatories to delist Austrian Raiffeisen Bank from the EU’s Sponsors of War register.

"It makes me sad to see Ukrainian lives put on one side of the scale and the commercial interests of an Austrian bank in Russia on the other side," the Ukrainian contact said.

If there is no agreement on the sanctions package next week, the last chance to adopt the 12th round of Russia sanctions this year will expire, as EU institutions take a Christmas break, EUobserver wrote.

A source pointed out that Austria is repeating Hungary’s tactics when the country blocked decisions in support of Ukraine because the Hungarian OTP bank was listed as an international sponsor of war.

"It's not Austria learning from Hungary, but the other way around. And I never understood why everyones forgives them [the Austrians] so easily, treats them with kid-gloves compared to Orbán, or other EU rogues," a senior EU diplomat told EUobserver.

Today, Raiffeisen is one of the most important financial channels through which Russian businesses can conduct transactions in dollars and euros. The bank makes huge profits as a result, which it then uses to finance Russia’s budget through paying taxes.

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