Raiffeisen halts sale of Russia unit amid US thaw

Raiffeisen Pauses Sale of Russian Business Amid Warmer US-Russia Ties

In mid-2024, Raiffeisen promised to speed up its exit from Russia, but the February court ruling has delayed that effort.

The RBI Group has decided to freeze the process of withdrawing from the Russian Federation against the background of warming relations between Moscow and Washington, writes FT. The bank itself denies this.

Raiffeisen halts plans to sell Russian subsidiary, FT reports

Raiffeisen Bank International has suspended efforts to sell its unit in Russia amid warming ties between Moscow and Washington, the Financial Times (FT) reported on April 18, citing undisclosed sources.Austria's Raiffeisen, the largest Western bank still operating in Russia, has long been scrutinized for failing to exit the country's market despite the EU and U.S. sanctions imposed at the outbreak of the full-scale war against Ukraine in 2022.Wh…

Raiffeisen Pauses Russian Bank Sale Amid U.S.-Russia Talks – FT

Austria’s Raiffeisen Bank International (RBI) paused the sale of its Russian subsidiary in February amid signs of a potential thaw in U.S.-Russia relations, the Financial Times reported Friday, citing unnamed sources familiar with the matter. “[The pause] is in order to assess the situation and if the position of the U.S. might change,” one source told FT, suggesting the bank is waiting to see whether improving diplomatic ties could ease pressur…

Raiffeisen halts sale of Russia unit amid US thaw

Western bank has faced pressure to quit, but exit has been complicated by court process

RBI has been under pressure from domestic regulators and foreign governments since the beginning of the Russian invasion of Ukraine.