US EditionEU Weighs Handing Raiffeisen $2Bln in Deripaska-Linked Strabag Shares – FT
The EU plans to unfreeze €2 billion in Deripaska-linked shares to compensate Raiffeisen Bank for a $2.3 billion fine paid to Russia amid ongoing sanctions tensions.
- Financial Times reported Friday that the European Union is preparing to lift sanctions so Raiffeisen Bank International can recover $2.3 billion by transferring Strabag shares as compensation.
- A 2024 Russian court ordered Raiffeisen Bank International to pay 2 billion euros in damages to Rasperia and take Strabag shares, but RBI said the ruling has `no binding effect in Austria`.
- Raiffeisen and Deripaska previously tried but failed an asset swap due to sanctions, Rasperia bought a 24% stake in Strabag in 2007, and earlier this week Strabag withdrew its claim against both.
- EU ambassadors were expected to discuss the plan in Brussels on Friday, with several EU member states warning it could set a dangerous precedent while others say it prevents Oleg Deripaska benefiting twice.
- Russian authorities blocked Raiffeisen Bank International's sale to a local buyer on Wednesday, fearing sanctions and resisting its exit due to its unique SWIFT payment system access in Russia.
11 Articles
11 Articles
EU Weighs Handing Raiffeisen $2Bln in Deripaska-Linked Strabag Shares – FT
The European Union is considering unfreezing 2 billion euros ($2.3 billion) worth of shares in Austrian construction group Strabag once linked to sanctioned Russian tycoon Oleg Deripaska and handing them to Raiffeisen Bank International (RBI) as compensation for damages ordered by Russian courts, the Financial Times reported Friday, citing European officials.
Raiffeisen Bank Could Reclaim $2.3 Billion if EU Approves Unfreezing Russian Oligarch Funds
The European Union is preparing to lift sanctions on assets linked to Russian oligarch Oleg Deripaska, enabling Raiffeisen Bank International (RBI) to recover a $2.3 billion fine paid to Russia, Financial Times reported on October 3. According to European officials, this move involves unfreezing shares in the Austrian construction company Strabag, once part-owned by Deripaska, which would be transferred to Raiffeisen as compensation for the cour…
Oleg Deripaska is considered a Putin confidant and U.S. election manipulator. But the EU clearly remove its former assets from the sanction list. For Strabag, Raiffeisen and Rasperia it is about billions.
EU may unfreeze some sanctioned Russian assets to compensate Raiffeisen Bank
The European Union is looking at lifting sanctions on assets linked to Russian oligarch Oleg Deripaska to compensate Austria's Raiffeisen Bank International for damages it was ordered to pay in Russia, the Financial Times reported on Friday.
Raiffeisen, the largest Western bank in Russia, where it still operates because Russian authorities are not allowing it to withdraw, being one of the few remaining links to the Swift system, has been ordered by a Russian court to pay 2 billion euros in damages to a company formerly owned by Russian oligarch Oleg Deripaska. Austria now wants the sanctions imposed on Deripaska’s assets to be lifted and transferred to Raiffeisen as compensation. Th…
vienna.at
Salzburger NachrichtenAccording to insiders, Austria is pushing for a controversial regulation in the European Union to compensate Raiffeisen Bank International (RBI) for a fine imposed in Russia. Vienna is insisting on including a corresponding clause in the 19th sanctions package currently being discussed, EU diplomats told Reuters on Friday. According to the agreement, shares in the Austrian construction group Strabag, valued at around two billion euros, are to be…
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