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Austrian bank Raiffeisen issued a stern warning for its dealings with Russia

The US Treasury Department has warned Austrian bank Raiffeisen Bank International (RBI) in writing that its access to the US financial system may be cut off because of its dealings with Russia, according to a source familiar with the matter. On May 6, US Treasury Undersecretary Wally Antigemo sent a letter to the RBI expressing concern over the RBI's expansion into Russia, as well as a $1.5 billion deal with a Russian tycoon in which they have sanctioned – a deal the bank has since scrapped, according to the source, who asked to remain anonymous because the matter is private. While the deal linked to Oleg Deripaska was abandoned by Raiffeisen days after it received the letter, the source said the US Treasury Department's concerns about Raiffeisen's operations in Russia remain. The warning is the strongest yet to the largest Western bank in Russia and […]
Source: News Beast

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