Raiffeisen Bank International AG (RAIFF)
- Reuters
Explainer-Austria's Raiffeisen faces US wrath over Russian business
The U.S. Treasury has warned Austria's Raiffeisen Bank International (RBI) that its access to the U.S. financial system could be restricted because of its Russian dealings, according to a person who has seen a letter detailing the threat. The May 6 letter is the strongest warning yet to the biggest Western bank in Russia and follows months of pressure from Washington, and Europe, as they try to toughen up sanctions against Russia and further squeeze it financially. RBI this month abandoned a $1.5 billion deal linked with a sanctioned Russian tycoon that the U.S. opposed.
- Reuters
Exclusive-US warned Raiffeisen's access to dollar system could be curbed over Russia, source says
FRANKFURT/VIENNA (Reuters) -Raiffeisen Bank International was warned by the U.S. Treasury in writing that its access to the U.S. financial system could be curbed because of its Russia dealings, according to a person who has seen the correspondence. On May 6, Deputy Secretary of the Treasury Wally Adeyemo sent a letter to RBI, expressing concern about RBI's presence in Russia as well as a $1.5 billion deal with a sanctioned Russian tycoon that the bank has since scrapped, according to the person, who requested anonymity because the matter is private. While the deal linked to Oleg Deripaska was ditched by Raiffeisen days after the letter arrived, the source said that the U.S. Treasury's concerns over the Austrian bank's business in Russia remain.
- Reuters
Austria's RBI drops bid for stake linked to Russian tycoon after US pressure
VIENNA (Reuters) -Austria's Raiffeisen Bank International (RBI) has dropped a bid for a 1.5 billion euro ($1.6 billion) industrial stake linked to Russian tycoon Oleg Deripaska after intense U.S. pressure. The deal's collapse is a fresh setback for the biggest Western bank in Russia, which faces criticism for its ties to Moscow more than two years since Russia's invasion of Ukraine. RBI's announcement followed weeks of pressure over its plan to buy a stake in construction group Strabag, a move designed to unlock bank funds frozen in Russia but opposed by the U.S.
