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Ukraine removes companies from 'international sponsor of war' list as part of military aid negotiations

by Elsa Court and The Kyiv Independent news desk September 29, 2023 10:59 PM 1 min read
This audio is created with AI assistance

One bank and five shipping companies have been provisionally removed from Ukraine's 'international sponsor of war' list, Ukraine's National Agency for Corruption Prevention (NACP) announced on Sept. 29.

The move concerns the Hungarian OTP Bank and five Greek shipping companies: Dynacom Tankers Management, Delta Tankers, Thenamaris Ships Management, Minerva Marine, and TMC Tankers.  

The NACP hopes that this will "lead to Hungary’s unblocking of €500 million of vital EU military aid for the Ukrainian people, and will also eliminate the possibility of Greece blocking the future EU sanctions package aimed at reducing Russia’s ability to continue the war."

OTP Bank was added to the list in May 2023, while the shipping companies have been on the list since August 2023.  

The decision to "temporarily suspend" thier inclusion on the list was made following negotiations between NACP "representatives and representatives of companies and governments in these countries," according to the agency.

The companies will be fully removed from the list once they have fulfilled the conditions agreed upon with NACP regarding cooperation with Russia.

The 'international sponsor of war' is designed to be "a powerful reputational tool," the NACP explains on its website.

The NACP aims to encourage the exit of international business from Russia, reducing the country's "financial and technological ability to kill Ukrainians."

Multinational companies like Unilever, Bacardi, and AliExpress are currently included on the list.

Ukraine designates PepsiCo, Mars as ‘international war sponsors’
Ukraine’s National Corruption Prevention Agency added major food corporations PepsiCo and Mars to the “international sponsors of war” list on Sept. 1.
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