TFIGlobal
TFIGlobal
TFIPOST English
TFIPOST हिन्दी
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
No Result
View All Result
TFIGlobal
TFIGlobal
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

Austria’s biggest bank exposes Europe’s clandestine deals with Russia

Vedica Singh by Vedica Singh
July 10, 2023
in Europe
Austria’s biggest bank exposes Europe’s clandestine deals with Russia
Share on FacebookShare on X

It all began when Russia’s invasion of Ukraine shocked the West and caused numerous firms to terminate ties. Or so we believed. It seems that European companies kept up their covert activities under the radar.

Here comes Raiffeisen, defiantly buckling under pressure from the US and EU to leave Russia as soon as possible. The Austrian banking firm defended its long-standing links to Moscow with the support of Vienna politicians. When you can leisurely tango with danger, who needs a clean break, right?

Also Read

Zelensky: NATO should get our money ready, Ukraine expects $3.5 billion NATO fund for US weapons to sustain war effort

Putin’s masterstroke! Russia’s 19 dummy drones are enough to break NATO Unity, divert EU aid to Poland, and leave Zelenskyy furious as Europe prioritizes its own defense over Ukraine. 

Starlink’s new Rival: Russia all set to match Elon Musk’s Starlink satellite network with the powerful ‘Rassvet’

According to Reuters, despite pressure from EU regulators, Austrian banking giant Raiffeisen is delaying its pullout. The agency quoted officials in Vienna as defending long-standing ties with Moscow.

Source: Свідомі

In the eyes of many, Raiffeisen is crucial to the Russian economy, acting as a lifeline for transfers of euros into and out of the nation. On the list of 13 systemically important credit institutions compiled by the Russian central bank, it is one of just two foreign banks, the other being UniCredit of Italy.

Raiffeisen was urged to leave the Russian market by the European Central Bank (ECB). The bank, however, complained that it had been unfairly singled out. They said that other EU banks were secretly grooving in Russia as well. What an outrageous disguise!

Unmasking Europe’s Russian Rendezvous

Even the central bank of Ukraine joined the chorus, charging European banking organizations with clinging to the market of the invader. It appears that just a small number of foreign banks managed to leave, with France’s Société Générale (SocGen) taking the lead in the flight.

France’s Société Générale (SocGen) is one of only a small handful of foreign banks that have successfully exited the Russian market via a subsidiary sale. It sold its Russian subsidiary, Rosbank, to Russian conglomerate Interros Capital, controlled by Russian oligarch Vladimir Potanin, last May, but took a net income hit of €3.2bn.

Source: Ledger Insights

Then why just single out Austria’s Raiffeisen? Unfair isn’t it.

Raiffeisen had already issued a warning, stating that the choice to leave its wildly successful business in Russia would result in “a decline in income generated by Raiffeisen Bank Russia” and have an effect on RBI’s clients.

In recent months, Western governments and investors have increased their pressure on Austria’s second-largest credit institution. According to reports, the European Central Bank (ECB) ordered the lender to pull out of the Russian market, and the RBI Group has come under examination in the US and EU for alleged violations of Western sanctions.

Read More: Brussels vs. Belgium: EU sanctions Belgium for standing against its diktats

In an absurd display of duplicity, they are coercing Raiffeisen to make a quick exit out of Russia. Their demand, however, conveniently ignores the fact that various European banks have been conducting covert activities on Russian soil.

It begs the issue of why Raiffeisen is singled out for an accelerated exit while other financial firms are allowed to carry on with their unethical practices unchecked. It is difficult to overlook the clear double standards, which casts doubt on the sincerity of the calls for withdrawal.

Watch More: 

Tags: AustriaEUFranceNewsRussiasanctionsSocGenTradeUpdates
ShareTweetSend
Vedica Singh

Vedica Singh

Columnist, TFI Media. Seeker. Opinionated. Life long student.

Also Read

Poland Blocks Belarus Border: €25B New Silk Road Trade Halted, Temu & Shein Hit

Poland blocks Belarus border, stalling China’s Belt & Road trade to Europe. Will Warsaw succeed in forcing China to use its influence on Russia to prevent Russian Drone Incursion? 

September 18, 2025
Putin's masterstroke! Russia’s 19 cheap dummy drones are enough to break NATO Unity, divert EU aid to Poland, and leave Zelenskyy furious as Europe prioritizes its own defense over Ukraine. 

Putin’s masterstroke! Russia’s 19 dummy drones are enough to break NATO Unity, divert EU aid to Poland, and leave Zelenskyy furious as Europe prioritizes its own defense over Ukraine. 

September 18, 2025
Poland calls for a NATO-backed no-fly zone over Ukraine to counter Russian drone attacks, while President Nawrocki seeks nuclear access via France. Shift in Poland's Strategic Aspirations amid growing European Tension? 

Poland calls for a NATO-backed no-fly zone over Ukraine to counter Russian drone attacks, while President Nawrocki seeks nuclear access via France. Shift in Poland’s Strategic Aspirations amid growing European Tension? 

September 17, 2025
Zelenskyy scraps Ukrainian military training troops? The reality behind Ukraine's new war tactics.

Zelenskyy scraps military training for Troops? The reality behind Ukraine’s new war tactics.

September 17, 2025
Russia vs NATO? Poland says it faces up to 50 Russian sabotage attempts daily, hitting hospitals and city water supplies.

NATO vs Russia? Poland says it faces up to 50 Russian sabotage attempts daily, hitting hospitals and city water supplies.

September 16, 2025
Zelensky: "The Most Effective Sanctions Are Fires at Russian Oil Refineries, Terminals, and Oil Depots"

Zelensky: “The Most Effective Sanctions on Russia Are Fires at Russian Oil Refineries, Terminals, and Oil Depots”

September 15, 2025
Youtube Twitter Facebook
TFIGlobalTFIGlobal
Right Arm. Round the World. FAST.
  • About Us
  • Contact Us
  • TFIPOST – English
  • TFIPOST हिन्दी
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy

©2025 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIPOST English
TFIPOST हिन्दी

©2025 - TFI MEDIA PRIVATE LIMITED

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.