ECB pressuring major bank to leave Russia – Reuters ...News

Austrian officials are reportedly defending Raiffeisen Bank’s activities in the sanctioned country The European Central Bank (ECB) is pressuring Austria’s Raiffeisen Bank to quit the Russian market, Reuters reported on Friday. The ECB is not demanding that Raiffeisen leave the country immediately, fearing the financial hit it could trigger, but wants the lender to develop a plan for unwinding its business there, with one of the options being a sale or closure of its Russian affiliate, the news agency cited its sources as saying. The pressure on Austria’s second-biggest bank reportedly comes after a top US official

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