Hungarian OTP Bank Has Been Listed as an International Sponsor of the War

The National Agency on Corruption Prevention (NACP) adopted the decision to add the Hungarian OTP Bank to the list of international sponsors of the war. The NACP’s decision is explained by the position of the Bank’s management regarding the continuation of the activities of the Russian branches and the actual recognition of the Donetsk and Luhansk “people’s republics”. In addition, as noted in the press release of the NACP, the Bank provides preferential lending conditions to the Russian military.

Inclusion in the specified list contributes to the further display of information in the World-Check database – a list of politically significant individuals and high-risk individuals and organizations, used worldwide to identify and manage financial, regulatory and reputational risks.

Additionally, such a decision of the NACP affects the further possibility of imposing sanctions in accordance with the Individual Sanctions Roadmap developed by the Stanford International Working Group on Russian Sanctions.