US EditionRussian court orders Austrian bank Raiffeisen to pay compensation
Raiffeisen Bank International will appeal the €339 million ruling tied to frozen funds in Vienna after sanctions linked to Russia's Ukraine invasion, following a prior €2 billion damages order.
- On Thursday, a Russian court ordered Raiffeisen Bank International to pay nearly $400 million in compensation to Rasperia, targeting the largest Western bank still operating in Russia.
- Frozen funds in Vienna lie at the heart of the dispute as Rasperia says European sanctions linked to Oleg Deripaska, under Western sanctions since 2022, caused its losses.
- In March, RBI confirmed it faced more than 2,000,000,000 euros in damages and said the 339 million euros reflected frozen Vienna funds, adding it will appeal the ruling.
- Austria and Russia are negotiating to repatriate capital, while Ukraine's President Volodymyr Zelensky condemned Raiffeisen's continued operations, increasing political pressure on the bank.
- With some banks leaving Russia, decisions on sanctions and exits have been contentious as the European Central Bank urged banks to exit after 2022, while the US Treasury and other EU countries varied in response.
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35 Articles
The largest Western bank still operating in Russia was obliged to pay nearly $400 million for losses suffered by the Russian company Rasperia due to European sanctions.
Die Presse
ORF.at NewsAn arbitration court of the Russian region Kaliningrad has obliged the Strabag and the Austrian main shareholders to compensate the Rasperia.
A Russian court has ordered the Austrian Raiffeisen Bank International (RBI) to pay €339 million in compensation for the losses of the Russian company Rasperia.
VIENNA/MOSKAU. In the second dispute of the Russian MKAP Rasperia Trading Limited ("Rasperia") sanctioned by the EU against Strabag SE and its central Austrian action, the Arbitration Court of the Russian region Kaliningrad on Thursday obliged Strabag and the main Austrian action to pay Rasperia EUR 339 million.
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