10:37, 24 April 2025 1273 views

Raiffeisen Bank put on ice intended sale of its Russian subsidiary

Raiffeisen Bank International (RBI), an Austrian banking group, has stopped trying to sell its division in Russia amid warming relations between Moscow and Washington, the Financial Times reports, citing unnamed sources. 

Urged by American and European regulators, RBI began its search for buyers for the Russian business back in the spring of 2022. In 2023, the bank faced increased pressure from the European Central Bank and its demand to speed up the exit from Russia. Nevertheless, the Austrian group has failed so far to leave the market without the approval of the Russian government.