The Austrian RBI is considered to be the largest banking sponsor of Vladimir Putin and the “key financial bridge” between Russia and Europe. The profits of the Russian unit constitute almost half of the earnings of the whole group. The benefits are therefore bilateral, but Raiffeisen Bank is also under the pressure of the European Union and the USA, which expect it to limit activity in Russia due to its invasion of Ukraine. Recently, information appeared that the bank suspends the attempt to sell its shares in Russia – according to the sources of the “Financial Times” Raiffeisen Bank was to make this decision in the spring of 2025, when the new US administration began to establish political relations with Moscow. Now probably the company has returned to talks, but to no avail.
See also: Customers of the Russian branch of the Austrian bank provide Putin's war machine
Raiffeisen Bank is the largest lender of Russia
As Reuters reminds, the Russian branch of Raiffeisen Bank is the largest lender in a country that is not covered by sanctions. It is crucial for Russia's commercial transactions, including gas exports to Europe, for which he was severely criticized by Ukraine. That is why Russian officials were to oppose the acquisition of the shares of the Austrian financial giant by the Russian buyer. The sale of shares also prevents Russia from blocking RBI assets. It is about approx. EUR 7 billion of bank profits.
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Raiffeisen spokesman told the Reuters agency that the company limits the activity in Russia and that any sale of its business requires Russian consent. However, he did not provide any details about the recently conducted talks. He only mentioned that “RBI is negotiating the sale of his Russian subsidiary.” In recent years, there have been several such attempts to negotiate. Raiffeisen spokesman also said that loans, deposits and payments in Russia have been limited, and payments “are subject to severe restrictions and are in line with sanctions.”
The Russian Central Bank stated that it would not comment on any conversations with specific banks. Reuters was unable to determine which officials and potential buyers talked to the RBI.
