Austrian bank takes centre stage as EU pushes new sanctions on Russia 😔

Austrian bank takes centre stage as EU pushes new sanctions on Russia 😔

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Austrian bank takes centre stage as EU pushes new sanctions on Russia
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The article discusses the challenges faced by Raiffeisen Bank International (RBI) in relation to sanctions against Russia and a legal dispute involving its subsidiary in Russia. Despite the ongoing war in Ukraine and the exodus of Western businesses, RBI continues to operate in Russia and is seeking compensation for damages from Rasperia Trading, a company linked to sanctioned oligarch Oleg Deripaska. The Austrian government is pushing to lift sanctions on Rasperia to facilitate this compensation, but other EU member states are hesitant, fearing it could set a precedent. The situation remains complex and unresolved, with RBI's CEO expressing hope for a resolution.

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