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Raiffeisen Bank International AG (RAW.BE)
- Reuters
Yellen warns German banks to boost compliance with US sanctions on Russia
FRANKFURT (Reuters) -U.S. Treasury Secretary Janet Yellen urged German bank executives on Tuesday to step up efforts to comply with sanctions against Russia and shut down efforts to circumvent them to avoid potential penalties themselves that would cut off dollar access. Yellen said at the start of a meeting with bankers that the Treasury's new authority to hit banks with secondary sanctions if they aid Russian military-related transactions had helped to frustrate Russia's efforts to procure goods needed for its war in Ukraine, but more work was needed.
- Reuters
RPT-EXPLAINER-Austria's Raiffeisen faces US wrath over Russian business
The U.S. Treasury has warned Austria's Raiffeisen Bank International (RBI) that its access to the U.S. financial system could be restricted because of its Russian dealings, according to a person who has seen a letter detailing the threat. The May 6 letter is the strongest warning yet to the biggest Western bank in Russia and follows months of pressure from Washington, and Europe, as they try to toughen up sanctions against Russia and further squeeze it financially. RBI this month abandoned a $1.5 billion deal linked with a sanctioned Russian tycoon that the U.S. opposed.
- Reuters
Austria's Raiffeisen faces US wrath over Russian business
LONDON/FRANKFURT (Reuters) -The U.S. Treasury has warned Austria's Raiffeisen Bank International (RBI) that its access to the U.S. financial system could be restricted because of its Russian dealings, according to a person who has seen a letter detailing the threat. The May 6 letter is the strongest warning yet to the biggest Western bank in Russia and follows months of pressure from Washington, and Europe, as they try to toughen up sanctions against Russia and further squeeze it financially. RBI this month abandoned a $1.5 billion deal linked with a sanctioned Russian tycoon that the U.S. opposed.
