Some Austrian officials said such pressure on the bank was allegedly “unjustified foreign influence.”
The European Central Bank (ECB) is ordering Raiffeisen Bank International to withdraw its Russian business. Reuters reported this on Thursday, March 23.
The pressure on the Austrian bank comes after a US sanctions official raised concerns about Raiffeisen’s business in Russia during a visit to Vienna last month.
Pressure from the US and the ECB is raising rates for Austria and its second-largest bank, which plays a key role in Russia’s economy. The media indicate that some Western banks have already left Russia, notably the French Societe Generale.
“While the ECB is not asking Raiffeisen to leave the country immediately, it does require an action plan to wind down the business. Such a plan could include selling or closing its Russian bank,” the report notes.
However, Raiffeisen does not currently intend to present such a plan. In particular, a representative of an Austrian bank said that they are currently only studying options for withdrawing their business from Russia.
Some Austrian officials see these measures as “undue foreign interference.”
Recall that NAPC includes Raiffeisen Bank International in the list of international sponsors of the war for the continuation of work on the territory of the aggressor country of Russia and for the official recognition of the so-called “DPR” and “LPR”.
We previously reported that Raiffeisen Bank International, together with Sberbank, is planning an asset swap operation in Russia and Austria.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.