Finance
Raiffeisen’s Russia Fallout Deepens as Court Freezes Shares
- Injunction prohibits the transfer of shares in Russian unit
- Viennese bank has been trying in vain to sell unit since 2022
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Raiffeisen Bank International AG suffered another setback at its Russian unit after a court in the country froze its shares in the subsidiary, further complicating efforts to sell it.
The ruling is related to legal proceedings by Rasperia Trading — a company affiliated with billionaire Oleg Deripaska — against construction company Strabag SE and its core Austrian shareholders, Raiffeisen said in a statement late Thursday.