Reuters: Austrian authorities warn Raiffeisen Bank over deal with Russian oligarch Deripaska [Yahoo! Finance]
RAIFFEISEN BK IN UNSP/ADR (RAIFY)
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Source: Yahoo! Finance
The Vienna-based bank group, the largest remaining Western bank in Russia, has been under increasing pressure since the start of Russia's all-out war to scale down its activities in the country. Deripaska, billionaire and former president of the aluminum giant Rusal, was sanctioned by the U.S. in 2018 and by the U.K. in 2022 following Russia's full-scale invasion. Ukraine nationalized Deripaska's business assets in February 2023. Raiffeisen has been interested in buying a 1.5 billion euro ($1.6 billion) stake in the construction company Strabag, which is linked to Deripaska. Officials from the central bank have cautioned against the proposed deal, saying that it could violate sanctions and lead to backlash from the U.S. One source told Reuters that the sale is "embarrassing for Austria, given international criticism of the country for being too friendly towards Russia." A spokesperson for Raiffeisen said that the "acquisition of Strabag shares remains subject to the complia
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News
- Russian metals tycoon says US Treasury sanctions against him are 'balderdash' [FOX News]FOX News
- Russian tycoon Deripaska calls latest US sanctions 'balderdash' [Yahoo! Finance]Yahoo! Finance
- Raiffeisen Bank faces U.S. dollar system ban over Russian ties [Yahoo! Finance]Yahoo! Finance
- Morning bid: New stock records jump the CPI gun [Yahoo! Finance]Yahoo! Finance
- Morning bid: New stock records jump the CPI gun [Yahoo! Finance Canada]Yahoo! Finance Canada