Finance
Raiffeisen Books Provision on €2 Billion Russia Court Order
- Bank declined to specify exact amount of provision in case
- Ruling relates to case linked to Rasperia Trading and Strabag
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Raiffeisen Bank International AG said it will book a provision in its fourth-quarter results after a Russian court put its unit there on the hook for more than €2 billion ($2.08 billion) of damages.
The ruling is related to legal proceedings by Rasperia Trading — a company formerly owned by sanctioned billionaire Oleg Deripaska — against construction company Strabag SE and its main Austrian shareholders.