Reported about 1 year ago
Raiffeisen Bank International faced pressure from the US to scrap a deal with links to a Russian oligarch, leading to threats of cutting off access to the dollar. Despite canceling the deal, the bank is under mounting international pressure to reduce ties with Russia amid concerns of potential sanctions violations and distrust from European regulators. Austria's heavy reliance on Russian gas and historic ties make it challenging for the bank to sever connections despite urged actions from supervisors to reduce Russian operations. Raiffeisen's future in Russia remains uncertain as it navigates the geopolitical tensions between the US and Russia.
Source: YAHOO