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Raiffeisen has not outlined its spin-off plan to EU regulators, making a Russia exit unlikely by September despite pressure, Reuters says Read Full Article at RT.com
Raiffeisen Bank International
is delaying plans to leave Russia, three people familiar with
its position said, as Austria steps up its defence of
long-standing ties with Moscow. .
Raiffeisen Bank International is delaying plans to leave Russia, three people familiar with its position said, as Austria steps up its defence of long-standing ties with Moscow. Raiffeisen (RBI), the largest of the Western banks in Russia, had intended to spin off its Russian business, which provides a payments lifeline to hundreds of companies there, by September after coming under pressure from European regulators. Austria and RBI, which is also at the centre of a U.S. inquiry over its Russian links, are resisting this in the hope that the war in Ukraine will end soon, the people told Reuters.