USA warns Austria and its Raiffeisen Bank over cooperation with Russian banks

Raiffeisen Bank has not yet decided to leave the Russian market
Raiffeisen Bank has not yet decided to leave the Russian market

The US will warn banks of the dangers of doing business in Russia, piling pressure on the largest Western bank Raiffeisen International (RBI), Reuters reported on March 7.

“As part of Washington’s renewed push on sanctions, it would encourage Austrian banks to examine their Russian exposure and ‘take mitigation measures’,” US Treasury official Anna Morris said.

Morris is the latest US official to visit Austria, which continues to maintain close ties with Russia.

Austria is reluctant to sever decades-old ties with Russia, despite supporting Ukraine significantly, and still believes that relations can be restored.

Vienna also continues to press for Ukraine to exclude RBI from the blacklist, and the list dubbed “international war sponsors of war”.

Austrian Raiffeisen has around 2,600 corporate clients, 4 million account holders, and 10,000 employees, Russian authorities reported and made it clear that they wish it to stay, as it enables international payments.

Read also: Austria blocks 12th EU Russia sanctions package over Raiffeisen Bank — report

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Read the original article on The New Voice of Ukraine