Reported about 1 month ago
A Russian court has frozen the shares of Raiffeisen Bank International's local branch, preventing any sale of the business as tensions between Moscow and the West escalate. Despite the court's decision, the bank maintains that its operations will not be affected and plans to contest the ruling. Raiffeisen is crucial for international payments in Russia and has nearly 2,600 corporate clients. The European Central Bank has been urging the bank to reduce its Russian presence, which has surprisingly become increasingly profitable since the start of the Ukraine conflict.
Source: YAHOO