Ukraine refuses to take Raiffeisen off Russia war blacklist

Ukraine has refused to remove Raiffeisen Bank International from a “sponsors of war” blacklist, challenging the biggest Western bank in Russia to sever its ties to Moscow.
In a letter sent to Raiffeisen earlier this month, which was seen by Reuters, Ukrainian officials questioned what the bank was doing to leave Russia, saying much of its plans were vague and incomplete.
The correspondence ratchets up pressure on one of Austria’s largest banks and adds to tensions between Kyiv and Austria, whose political leaders are also lobbying to have Raiffeisen taken off the list, having earlier secured a temporary suspension.
“The sale timeline is missing … it remains unclear when, if at all, a spin-off scenario might come into action,” the Ukraine officials said in the letter.
Raiffeisen had intended to spin off its Russian business last year but this has yet to happen.
A Raiffeisen spokesperson said the bank could not give a timeframe for leaving Russia because this depended on the approval of regulators.