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Raiffeisenbank faces legal challenges in Russia over billion-euro lawsuit

Raiffeisenbank Russia faces a significant legal challenge as a St. Petersburg court rejected its appeal against a Kaliningrad court's temporary injunction. The bank must prepare for an appeal hearing on April 24 regarding a €2.044 billion lawsuit from Rasperia Trading Limited, linked to EU sanctions against Russian oligarch Oleg Deripaska. If the appeal fails, Rasperia could access Raiffeisenbank's funds, complicating the transfer of STRABAG shares due to existing sanctions.

Raiffeisenbank Russia faces legal setbacks in billion euro Strabag lawsuit

Raiffeisenbank Russia faced a setback in court as its appeal against a sales prohibition was rejected, with a crucial hearing set for April 24 regarding a €2.044 billion lawsuit from Rasperia Trading Limited, linked to EU sanctions against its former owner, Oleg Deripaska. If the appeal fails, Rasperia could access funds from the bank, complicating the share transfer process due to EU restrictions. The case highlights the intricate ties between the parties involved, particularly through Raiffeisen-Holding Niederösterreich-Wien.

India's financial system shows improved resilience and regulatory advancements, says IMF

India's financial system has strengthened since 2017, with non-bank lenders better capitalized to handle economic shocks while maintaining moderate lending. The IMF's latest assessment highlights regulatory improvements by the RBI and the expansion of public digital infrastructure, though it calls for enhanced legal and tax frameworks. While the insurance sector remains stable, risks from climate change and cybersecurity require improved risk management strategies.

Raiffeisenbank Russia faces legal setbacks in billion-euro Strabag lawsuit

Raiffeisenbank Russia faced another legal setback as a St. Petersburg court rejected its appeal against a temporary injunction preventing ownership changes, linked to a billion-euro lawsuit from Rasperia Trading Limited, a shareholder in Strabag. A decisive appeal hearing is set for April 24, where the court will determine if the bank must pay 2.044 billion euros in damages and transfer Strabag shares, complicated by EU sanctions against Rasperia. The case stems from a dispute over sanctions related to Russian oligarch Oleg Deripaska, with the lawsuit targeting Raiffeisenbank based on its connection to Raiffeisen-Holding.
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