The European Central Bank (ECB) demands that Raiffeisen Bank exit the Russian market Reuters citing five sources.
According to two sources, the ECB is not demanding an immediate exit, insisting on the creation of an action plan to restrict the bank’s activities in the Russian Federation. It is alleged that such a plan could involve the sale or closure of the Russian division.
The sources added that while Raiffeisen Bank was reportedly reluctant to present such a plan, some interlocutors among Austrian officials condemned the ECB’s move as unwarranted intervention.
It was previously reported that a subsidiary of the Austrian banking group Raiffeisen Bank became the International Russian Raiffeisenbank from 3 April. increase the minimum amount of foreign currency transfer for legal entities and individual entrepreneurs.