Raiffeisen Bank Clients in Russia Help Supply Putin’s War Machine
- Clients include chemical firm supplying Putin’s arms industry
- Bank amassed €4.4 billion of profit that is stuck in Russia
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Vienna-based Raiffeisen Bank International AG has been making money from firms supplying Vladimir Putin’s military, according to documents seen by Bloomberg, as the Russian army grinds forward in Ukraine.
Raiffeisen’s Russian unit received more than 62 million rubles ($620,000) in fees for its services from one Russian chemical company last year, bank statements and other documents show. That firm supplied a sanctioned company with ingredients needed for producing military systems, according to the statements.