Raiffeisen Bank blocked Russian payments for parallel imports
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The Austrian group Raiffeisenbank International (RBI) has cut correspondent relations with banks of the CIS countries participating in gray schemes for the supply of goods to Russia. Moscowtimes writes about it.
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“RBI constantly reviews its correspondent business and closely monitors changes in payment and trade flows. Therefore, we decided to adjust our risk appetite also in the CIS region,” said the representative of the group.
According to him, as a result, the largest bank in Kazakhstan, Halyk Bank, which has an account with the RBI, introduced “restrictions on payments related to certain industries.” Other RBI clients in Kazakhstan have done the same, the representative of the group noted.
Read: Raiffeisen Bank closed all correspondent accounts of Russian banks
Transfers are made in foreign currencies, including euros, through correspondent accounts. The RBI’s decision to cut correspondent business in the CIS countries is directly related to pressure on the bank from the ECB, the European Commission and the American authorities, says George Voloshin, an expert on sanctions at the Association of Certified Anti-Money Laundering Specialists (ACAMS).
“Now the bank is under serious pressure not only to exit the Russian market as soon as possible, but also to reduce its participation in trade flows within the Eurasian Economic Union,” Voloshyn noted.
According to him, operations on the import of goods for dual and military use, as well as luxury goods, may fall under the restrictions.
Let’s remind
The Ministry of Finance wrote that Raiffeisen Bank made a statement about its activities in Russia.
After that, the National Bank of Ukraine commented on Raiffeisen Bank’s statement regarding its activities in the Russian Federation.
Earlier, the National Agency for the Prevention of Corruption (NAPK) included the Austrian banking group Raiffeisen Bank International in the list of international sponsors of the war.
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Source: Ministry of Finance
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