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The US will restrict Raiffeisen Bank's access to the country's financial system if it does not withdraw from russia

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Raiffeisen Bank International has been warned by the US Treasury Department that it may be restricted from accessing the US financial system due to its activities in russia. This happened after the bank refused to sign a deal with a russian oligarch. Writes UNN with reference to Reuters.

Details

Austria's Raiffeisen Bank International received a letter from U.S. Deputy Treasury Secretary Wally Adeyemo, which stated that the bank's access to the U.S. financial system could be restricted due to its activities in russia.

The letter was sent on May 6, and two days later, RBI announced its decision to withdraw from the deal to buy russian oligarch oleg deripaska's stake in Strabag. Adeyemo expressed US concerns about the deal in a letter, but the warning was not limited to it. According to the newspaper, the US Treasury Department's concerns about the bank's activities in russia remain.

The US official noted that Raiffeisen's activities in russia contradict the commitments the bank had previously made to the US Treasury Department. Wally Adeyemo warned that the RBI's actions increase the risk of intervention by the US Treasury, which could limit the bank's access to the US financial system due to national security threats.

A Raiffeisen spokesperson responded to Reuters by saying that the bank had abandoned the Strabag deal and, as a result, had significantly reduced its presence in russia by taking measures to mitigate the risks from sanctions. He also noted that RBI will continue the process of deconsolidating its russian subsidiary.

Earlier, the European Central Bank demanded that Raiffeisen Bank speed up the process of reducing its business in russia. According to the bank's promise, this process should begin in the spring.

Recall

A representative of the U.S. Treasury Department's Office of Foreign Assets Control demands that Raiffeisen Bank International leave the russian market.

Reuters: Україна відмовляється виключати Raiffeisen Bank зі списку спонсорів війни15.02.24, 12:21

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