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Read previewAn Austrian bank's plan to repatriate $1.6 billion in assets still stuck in Russia is facing US pushback, on concern that the deal would breach Western sanctions.
The Raiffeisen Bank International remains the biggest foreign-owned lender remaining in the country, as efforts to sell or spin off its Russian unit have struggled since Moscow's tightened exit requirements on foreign firms.
That's as Deripaska is sanctioned for potential links to the Kremlin, making the transaction a possible breach of Western restrictions.
Aside from Raiffeisen, the US has been stepping up pressure on foreign banks that continue to facilitate transactions with Russia.
Persons:
—, Oleg Deripaska, Raiffeisen, that's
Organizations:
Service, Raiffeisen Bank, Business, Reuters
Locations:
Austrian, Russia, Russian, Vienna, Washington, Austria, Saudi Arabia, Turkey