Russian Court Freezes Shares of Raiffeisen Bank

A Russian court has imposed a freeze on shares of Raiffeisen Bank International's local division, effectively preventing any sale of the business, which has been the largest Western bank operating in Russia. This ruling complicates RBI's long-standing efforts to divest its Russian operations amid ongoing international regulatory pressures and the protracted conflict between Russia and Ukraine. Despite the court's order, RBI maintains that its operational capabilities remain intact and plans to contest the ruling. The Russian government has indicated a preference for RBI to continue its operations due to its role in facilitating payments for numerous corporate clients. This latest development represents one of the most significant asset freezes involving a Western bank in Russia, escalating tensions between Moscow and the West. RBI has emphasized its commitment to managing its subsidiary and scaling down operations in line with European Central Bank directives.