Raiffeisen Bank International Under Observation by U.S. Sanctions Authorities

PeopleOther ♦ Published: March 11, 2024; 20:21 ♦ (Vindobona)

Raiffeisen Bank International (RBI), a prominent financial institution based in Austria, is the focus of the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) due to its ongoing business relationship with Russia. OFAC has contacted the bank to request details of its transactions and processes related to Russia.

Austrian RBI still has to justify its Russian business. / Picture: © Wikimedia Commons; salech hcelas, CC BY 3.0 (https://creativecommons.org/licenses/by/3.0/deed.en)

RBI confirmed that it has received questions of a general nature from OFAC aimed at clarifying the bank's payment transactions in light of the current developments between Russia and Ukraine. Despite the intense scrutiny, the bank…