Skip to content
Edit post

Ukraine's anti-corruption agency designates Hungarian bank as 'international sponsor of war'

by The Kyiv Independent news desk May 4, 2023 4:43 PM 1 min read
This audio is created with AI assistance

Ukraine's National Corruption Prevention Agency designated Hungary's OTP Bank an "international sponsor of war" on May 4.

The decision was made due to the bank's decision to continue operating in Russia and adherence to a credit law directly referring to the proxy regimes in Russian-occupied Donetsk and Luhansk oblasts.

OTP Bank is Hungary's largest commercial bank and one of the largest in Central and Eastern Europe. The bank's Ukrainian division has approximately $507 million in assets.

OTP Bank is one of the 50 largest banks in Russia, serving more than 2.2 million customers.

The bank provides "preferential lending conditions to (members of) the Russian military," including the opportunity to defer payments on loans, the National Corruption Prevention Agency wrote.

According to the press release, OTP Bank is the 24th institution that the National Corruption Prevention Agency has designated an "international sponsor of war."

Ukraine war latest: Zelensky dismisses Russia’s claims of attempted ‘Putin assassination’ as drone reportedly explodes above Kremlin
“We don’t attack Putin or Moscow, we fight on our territory, defending our villages and cities. We don’t even have enough weapons to do that.” Zelensky told a news conference in Finland.
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

1:44 PM

Zelensky: 'We are 730 days closer to victory'.

"Any normal person wants the war to end. But none of us will allow our Ukraine to end," President Volodymyr Zelensky said in a video marking the two-year anniversary of Russia's full-scale invasion of Ukraine on Feb. 24.
Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
9:50 PM

Media: Zelensky may visit Armenia in near future.

President Volodymyr Zelensky may visit Armenia in “the near future,” the Armenian news outlet FactorTV reported on Feb. 23. Preparations for the visit are currently underway, but the exact date has not yet been confirmed, the outlet reported, citing its sources.
7:23 PM

Canada announces new sanctions against Russia.

Canada's new sanctions will target those who provide Russia with military equipment, offer services such as insurance to Russian soldiers, and otherwise help support the finances and logistics of the Russian state
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.