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A Russian court has ordered Austria's Raiffeisen Bank International to pay a 2 billion euro penalty following the collapse of a deal linked to U.S. sanctions. This ruling underscores Moscow's resolve to retaliate against Western companies, with implications for their operations in Russia. The case highlights the ongoing tensions and risks for businesses maintaining ties with Russia amid increasing diplomatic isolation.
Russia has imposed a multibillion-dollar sanction against Raiffeisen Bank following a court ruling in Kaliningrad, marking a significant blow to the largest Western bank operating in the country. The ruling, which comes amid deteriorating relations between Russia and Austria, serves as a stark warning to Western companies about the risks of doing business in Russia. Raiffeisen, which has substantial assets in Russia, faces increasing pressure and potential asset seizures as Moscow retaliates against Western corporate presence.
A Russian court has ordered Austrian bank Raiffeisen International to pay €2 billion in damages for a failed deal, marking a significant escalation in tensions between Russia and the West. The ruling, seen as a warning to Western companies, follows the collapse of a transaction involving a Russian-held stake in an Austrian automaker due to U.S. sanctions. This decision highlights the deteriorating relations between Russia and Austria, as well as the increasing risks for businesses operating in Russia amid ongoing geopolitical conflicts.
Helmut Brandstaetter
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Russian court imposes two billion euro penalty on Raiffeisen Bank
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15:54 21.01.2025
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Russia imposes two billion euro fine on Austrian bank Raiffeisen International
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15:54 21.01.2025
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