Raiffeisen Bank's Russian Exit Strategy: A Work in Progress

Raiffeisen Bank International denies halting the sale of its Russian unit amidst geopolitical tensions. Under pressure to reduce its Russian presence, the bank plans to sell 60% of its business. A spokesperson refuted rumors claiming the sale was paused following a reported thaw in US-Russian relations.

Raiffeisen Bank International, the largest remaining Western financial institution in Russia, confirmed its ongoing efforts to divest its Russian operations, despite reports to the contrary.

The bank, pressured by North American and European authorities due to geopolitical tensions following the Ukraine invasion, is focused on selling 60% of its business in Russia.

A spokesperson clarified to Reuters that the sale process is active, countering claims of a pause linked to a supposed diplomatic thaw between Russia and a newly re-elected President Trump.

(With inputs from agencies.)