The bank cannot transfer properties to a mother’s company in Austria, even despite income growth.
Austrian Raiffeisen Bank International (Raiffeisen Bank) Earns money with companies that provide Russian army. This was reported by Bloomberg with a reference to the associated documents.
Last year, the Russian Division Raiffeisen received more than 62 million rubles (more than 604 thousand euros) for its services from the Russian chemical company Unichim. This company supplied another element for the manufacture of military systems for western sanctions on western penalties.
The US Department of Financial Note that Rawenstvo develops and produces navigation radar systems and a division Granite Electron. The latter produces key elements of missile systems: automatic control systems and electronic warfare for Russia’s armada.
Company Granite Electron In connection with this is associated with AO Tactical missile weapon – The State Defense of the Russian Federation.
All three companies are under penalties from the United States after the invasion of Russia, and also fall under EU restrictions.
European officials, familiar with the documents, say “almost certain” the bank has other supplier customers. The bank cannot transfer properties to a mother’s company in Austria, even despite income growth. Raiffeisen has not been able to access the income for many years. In total, the bank accumulated 4.4 billion euros of excess capital, stuck to the Russian Federation.
The local business, like all creditors working in Russia, is controlled by the Central Bank in Moscow and is considered a Russian enterprise under Russian Federation law. This is extremely complicated by the destruction of relationships with customers, even if they are under sanctions or cooperating with the military.
Raiffeisen is also undergoing pressure from American regulators and the European Central Bank, which requires exit. In addition, the bank also has its own branch in Ukraine – one of the largest foreign banks in the country.
Raiffeisen Bank International has repeatedly said that he wants to separate his business in Russia. However, after nearly three years of war between Russia and Ukraine, nothing has changed.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.