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UPDATE 1-Austria's RBI stands by view that Strabag deal complies with sanctions [Yahoo! Finance]

RAIFFEISEN BK IN UNSP/ADR (RAIFY) 
NASDAQ:AMEX Investor Relations: rbinternational.com/ir
Company Research Source: Yahoo! Finance
VIENNA, April 2 (Reuters) - Austria's Raiffeisen Bank International, the biggest Western bank in Russia, said on Tuesday it stands by its assessment that its purchase of a stake in Austria's Strabag long held by a Russian tycoon complied with sanctions laws. But the bank also said the deal for the Strabag stake, which has faced scrutiny by U.S. government officials, "requires extensive compliance verifications" following a recent transfer of the holding. The disclosure by Raiffeisen (RBI) on Tuesday is the latest development in its attempt to unlock the stake in a complex deal as a means of freeing up some of its billions stranded in Russia. Reuters reported on March 20 that U.S. Treasury officials have expressed their concerns about the transaction in meetings with the bank and Austrian authorities. In December, RBI announced it intended to buy the 1.5 billion euro Strabag stake from Russia-based Rasperia Trading Limited, a company controlled by sanctioned Russian businessman Show less Read more
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