DA condemns Russian deals with DBSA
24 October 2024
The Democratic Alliance (DA) strongly condemns any potential financial collaboration between the Development Bank of Southern Africa (DBSA) and the Russian state-owned bank VEB.RF, an entity whose dubious conduct has resulted in sanctions which preceded Russia’s latest illegal war in Ukraine.
Reports of an agreement between South Africa and VEB.RF, as announced by the State owned Russian News Agency, are deeply concerning. Even though the DBSA has seemingly denied signing any credit line deal in a lengthy lawyerspeak statement, this situation raises several questions.
What was the rationale for engaging with VEB.RF in the first place? This engagement takes place at a time when the world, including key international partners, stand united in sanctioning Russia’s war machine.
Any association with sanctioned entities, especially those that may directly or indirectly fund the conflict undermines the South African government's questionable neutrality position.