They said Austria insisted on putting such a provision into the 19th package of sanctions against Moscow now under discussion.
The story was first reported by the Financial Times. Shares in Raiffeisen were up 5.4% by 0735 GMT.
“It would not be a good move, because Raiffeisen was to leave Russia but, thanks to German and Austrian backing, it did not. It stayed because it likes Russian money,“ one diplomat said. “So the issue is quite simple - if a company likes Russian roubles, then it is itself asking for trouble.”
Concerns about bolstering Russian courts
“If we go down this path, we could be unfreezing quite a lot of Russian assets and I don’t think this is the goal,“ the EU diplomat said.
Reuters reported on Wednesday that Raiffeisen, which is the largest Western lender operating in Russia and serves as a key financial bridge to the West, had failed in another attempt to sell a stake in its Russian business.
Russian officials opposed the sale, fearing that, if it went to a domestic buyer, that might trigger further sanctions against the lender, according to a source - REUTERS
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