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Sunday, October 1, 2023

Raiffeisen Shares Tumble Nearly 7% as US Treasury Requests More Information

“Raiffeisen Shares Tumble Nearly 7% as US Treasury Requests More Information”

Securities of the Austrian banking group Raiffeisen Bank International (RBI) fell in price by 7.33%, to € 15,245 per share. This is evidenced by the data of the Investing.com platform.

Shares lost in price after news of a request from the US Treasury, which came to the leadership of the Austrian group, regarding the work of the organization in Russia. The banking structure was contacted by OFAC, a division of the US Department, which is responsible for law enforcement in the field of sanctions.

“The issues raised by OFAC are of a general nature and are intended to clarify the situation with payments and related processes in the light of recent events related to Russia and Ukraine,” the RBI explained, adding that the request does not concern any specific payment or activity.

Last week, Reuters, citing a message from an RBI representative, wrote that the US Treasury launched an investigation into the Austrian banking group because of its work in Russia.

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