☠️ "Raiffeisen Bank" to Prohibit Russians🇷🇺 from Transferring Dollars Abroad

☠️ "Raiffeisen Bank" to Prohibit Russians🇷🇺 from Transferring Dollars Abroad

The Russian subsidiary of the Austrian group Raiffeisen Bank International (RBI) announced that outgoing dollar payments will not be available starting June 10.

🔠 The reason is attributed to the demands of foreign correspondent banks that process these transfers. Additionally, Raiffeisen Bank International received a written warning from the U.S. Department of the Treasury🇺🇸 in mid-May, stating that its access to the U.S. financial system could be restricted due to its operations in Russia.

🔠 Raiffeisen does not plan to limit incoming dollar payments. Additionally, the prohibition does not apply to other foreign currencies.

🔠 In February 2023, Raiffeisenbank accounted for 40-50% of all transactions between Russia and the rest of the world, according to a Financial Times (FT) report citing a senior executive of the credit organization.

🔠 In March 2023, under pressure from Austrian investors and the European Central Bank, RBI considered the possibility of selling or spinning off its business in Russia. However, by May it was revealed that the Russian subsidiary would not be sold, allegedly due to the lack of a buyer. Subsequently, the option of separating the subsidiary for eventual transfer to shareholders was proposed; however, this plan has not progressed as quickly as expected.

#news #Russia #international_news

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