Raiffeisen Bank Helping Russia Circumvent Sanctions, Report Claims
- Shares of Raiffeisen Bank International fell 9% on Thursday after Grizzly Research released a report alleging the Austrian lender facilitates sanctions evasion involving more than $1 billion in trade.
- Grizzly Research alleges the bank acts as a "key channel" for bypassing Western sanctions against Russia, with claims including trade of materials used in Russian weapons. The firm holds a short position on RBI stock.
- Responding to the report, Raiffeisen denied the accusations, stating, "We stand by the strength of our compliance systems, which have been reviewed many times." The bank called the Grizzly report misleading and factually incorrect.
- Operating as the largest Western lender in Russia, RBI has struggled to exit the market for years, making several failed attempts to sell its local operations while only reducing its business presence.
- U.S. authorities warned RBI in 2024 that it could be blocked from accessing dollars, though the threat was never enacted. The bank remains crucial for trade payments, including gas exports to Europe.
29 Articles
29 Articles
Raiffeisen Bank is accused of helping Russia to circumvent sanctions and export bans. RBI rejects the allegations.
The Raiffeisen Bank International (RBI) stock fell by 9% on September 17, following a report by Grizzly Research shorts, which accused the bank of helping to circumvent sanctions against Russia.
Raiffeisen Bank Helping Russia Circumvent Sanctions, Report Claims
Austria's Raiffeisen Bank International (RBI) is facing renewed scrutiny as the biggest Western bank still operating in Russia, after a short-selling firm alleged it was a key channel enabling more than $1 billion of Russian trade to circumvent sanctions.
The Austrian bank denies allegations of possible misconduct in connection with the Russian subsidiary. RBI is one of a few Western banks dealing with Russia's business.
Raiffeisen shares fell 8% after being accused of helping Russia circumvent sanctions
Raiffeisen shares fell 8% after being accused of helping Russia circumvent sanctions.Today, the American investment company Grizzly Research published a report on Raiffeisen's participation in helping circumvent sanctions and trade operations with...
Raiffeisen Slumps as Grizzly Research Alleges Russia Trades
Shares of Raiffeisen Bank International AG tumbled after Grizzly Research LLC said it’s shorting the bank, citing research showing the lender is exposed to trade involving Russian goods that are subject to import and export restrictions.
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