In February 2025, Raiffeisen Bank International (RBI) decided to suspend sales efforts as the Kremlin and the White House stepped up efforts to restore political relations.
UNN reports with reference to Financial Times.
Details
Austrian Raiffeisen Bank International (RBI) has suspended attempts to sell its Russian "daughter" against the background of the "warming" of relations between Moscow and Washington.
Context
After Russia launched a full-scale invasion of Ukraine in 2022, RBI came under pressure from regulators and foreign governments, including the EU and the US, regarding the sale of its business in Russia.
The sales process proved to be difficult. The complexity was compounded by the fact that a Russian court froze the shares of Raiffeisen Bank International's Russian subsidiary and subsequently fined the bank EUR 2 billion "for damages".
The new US administration has begun to restore political relations with Moscow, the FT writes. Raiffeisen Bank has probably chosen to suspend attempts to sell its division in Russia.
Explanations of Financial Times sources regarding Raiffeisen Bank's actions in Russia
One of the interlocutors of the publication, familiar with the course of negotiations, said that the reason for the suspension was global uncertainty, as well as the changing relations between the US and Russia.
This is done in order to assess the situation and understand whether the US position may change
A third person told the Financial Times that serious sales efforts have now "ceased", but the internal situation may change again.
Whether the reason for the pause is geopolitical events or a lawsuit, the publication's interlocutors declined to say
Raiffeisen Bank said in a statement that the sales process is "ongoing", but added that the lawsuit has stopped any deal from being concluded.