Reuters: Russian authorities block sale of Raiffeisenbank, want to keep it as a 'gateway'

Austrian Raiffeisen Bank International's deal to sell its Russian subsidiary – Raiffeisenbank JSC. According to a source from Reuters, an unnamed Russian investor wanted to buy the bank, but the Kremlin opposed.

The Russian authorities fear that Raiffeisenbank will be sanctioned after the sale, and they want to keep it as a "gateway" for money transfers to Europe and to maintain the economic ties that still remain with the West.

Raiffeisenbank is the largest of the Russian banks that have not yet been sanctioned, making it critical for foreign trade operations. For example, it processes payments for gas supplies via the Turkish Stream.

Representatives of Raiffeisen Bank International say they are continuing negotiations on the sale, but cannot give any timeframe due to obstacles from the Russian authorities. CEO Johann Strobl even visited Russia to negotiate the sale of the bank.

• Back in 2023, Raiffeisen Bank International announced that would sell its Russian bank or separate it.
• In September 2024, Austrians sold their bank in Belarus to a company from the UAE.