Raiffeisen Bank International Pauses Russian Unit Sale

In a surprising turn of events, Raiffeisen Bank International (RBI) has decided to suspend its plans to sell its Russian unit. This decision, as reported by the Financial Times on Friday, comes after internal discussions in February, fueled by the hope of improving relations between the United States and Russia.

Western Pressure and Future Prospects

Since the onset of Russia's military operation in Ukraine, RBI has faced significant pressure from Western countries, including the US, to exit the Russian market. However, sources close to the matter reveal that the bank is now adopting a wait-and-see approach, aiming to "assess the situation and see if the position of the US might change."

Legal Hurdles Complicate Sale

Adding to the complexity, RBI has acknowledged that the sale process, while "ongoing," faces immediate obstacles. The bank's shares in its Russian subsidiary are currently blocked due to an ongoing court case, making any transaction impossible at this juncture.