Exclusive: Washington pressures Austria's Raiffeisen to drop Russian tycoon deal

A signboard advertising Raiffeisen Bank is seen behind figures of the 1917 Bolshevik Revolution participants, which form a fragment of a monument to Soviet state founder Vladimir Lenin, in Moscow, Russia, February 11, 2023. REUTERS/Tatyana Makeyeva/File PhotoBank drops bond sale, memo shows, after Reuters reportVIENNA, March 20 - The United States is pressing Austria's Raiffeisen Bank International, the biggest Western bank in Russia, to drop plans to buy a 1.

U.S. government officials, who believe that Deripaska will benefit from the sale, have demanded the bank give details about the individuals and companies involved in the arrangement, the people said. A spokesperson for the bank said it had "diligently verified the compliance of the Strabag transaction with all applicable sanctions, prior to signing" and had in recent weeks "briefed all relevant authorities, including the U.S. Treasury and OFAC ".

The bank is a critical financial lifeline for millions of Russian customers who want to send euros or dollars abroad. Another person said that a senior DOJ official had been in regular contact with the Austrian bank concerning Russia and had often visited Vienna in this regard. The Department of Justice declined to comment.Raiffeisen also scrapped the sale of a 650 million euro bond, according to one of the banks organising that process, which circulated a memo seen by Reuters blaming "adverse market reaction to the latest headlines".

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