ECB pressures Austria's Raiffeisen bank to quit Russia - sources
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Loading... - Pia Haider
- 24 Mar 2023
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The European Central Bank is pressing Austria's Raiffeisen Bank International to unwind its highly profitable business in Russia, five people with knowledge of the matter told Reuters.
The pressure comes after a top US sanctions official raised concerns about Raiffeisen's business in Russia on a visit to Vienna last month, said another person familiar with the matter.
The push from Washington and the ECB is upping the stakes for Austria and its second-biggest bank.
The bank plays a key role in the Russian economy but also an increasingly contested one as Moscow's year-long war in Ukraine drags on. Read More..
