The US Treasury Department sent the Austrian banking group Raiffeisen Bank International (RBI) a warning on behalf of the Department’s Undersecretary, Wally Adeyemo, about closing access to the country’s financial system, Reuters reports. The reason for the possible restrictions was the bank’s ongoing transactions with Russia.
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According to the agency source, in the letter Adeyemo expresses his concern about the expansion of the RBI’s work in the Russian Federation. The intention to close a deal worth $1.5 billion with Strabag has also been criticized.
After receiving a letter from the US Ministry of Finance, the RBI rejected the deal, the agency writes. But according to a Reuters source, the US financial department still has concerns related to Raiffeisen’s Russian business.
“The RBI will continue working to deconsolidate its Russian subsidiary,” a bank spokesperson told Reuters.
As Bloomberg wrote earlier this month, the RBI decided not to buy shares in the Austrian construction company Strabag, as the organization was found to have links to Oleg Deripaska.
Media outlets also previously reported that the group had received a warning from Austrian authorities regarding the possible purchase of assets in Strabag.
Deripaska’s representatives stated that the businessman has had no relationship with Strabag for a long time.
The RBI first announced plans to close its business in Russia in 2022. However, under new rules that Russian leaders introduced after the crisis began, the sale of assets will require approval from a government commission.
Author:
Natalia Gormaleva
Source: RB
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