Raiffeisen Shares Drop 9% on Grizzly Report
Raiffeisen shares have plunged 9% after a Grizzly Research report alleged the bank facilitates over $1 billion in sanctions-evasion trade, a claim the lender rejects as factually incorrect. New details reveal that US authorities previously threatened to cut off the bank's dollar access in 2024, and that Moscow has blocked Raiffeisen from withdrawing its accumulated profits from Russia.
Per GN stocks/shares-fall, US regulators explicitly threatened Raiffeisen in 2024 with cutting off its access to dollar clearing services, a sanction the bank claims it has avoided despite ongoing Russian operations. The report also details how Moscow has blocked Raiffeisen from repatriating billions in profits, effectively trapping the funds within Russia while the bank remains the largest Western lender still active in the country.
Source: Global Banking & Finance ReviewRaiffeisen Bank International shares fell as much as 9% after a short-seller alleged the Austrian lender facilitates over $1 billion in sanctions-evasion trade with Russia.
Source: euronext.com
