Raiffeisen Bank has been implicated in facilitating payments associated with Russian defense contracts, according to investigative findings by journalists from “Schemes.” The reports highlight at least 26 transactions planned for 2024 and 2025, amounting to over 15 million rubles. These transactions involve “Quality,” a company supplying lubricants to the Russian defense sector and military.
Funds were reportedly deposited into the accounts of Raiffeisen Bank clients. The bank acknowledged the existence of these operations but stated that it cannot block internal ruble payments. However, Raiffeisen Bank has rejected other transactions based on its internal policies.
This revelation raises further concerns about Raiffeisen Bank’s commitment to exiting the Russian market. Despite earlier pledges to withdraw, the bank has continued operations in Russia and has paid approximately €1.9 billion in taxes to the Russian government since 2022. A portion of these funds is believed to support the ongoing war against Ukraine.
