---
title: "Sanctions against Raiffeisenbank: Why the EU Cannot Agree with Austria"
description: "The European Union is discussing sanctions against the Austrian Raiffeisenbank, but member states cannot agree due to the complex situation with Strabag assets. The bank's attempts to exit Russia have been unsuccessful, and the Russian subsidiary's losses in 2025 amounted to €86 million. 🏦📉"
date: 2026-07-14T13:27:07.000Z
lang: en
url: https://xab.info/en/posts/sanctions-against-raiffeisenbank-disagreements-in-the-eu-en
tags: [raiffeisen-bank, eu-sanctions, strabag, russia, oleg-deripaska]
publisher: "XAB.info"
---

# Sanctions against Raiffeisenbank: Why the EU Cannot Agree with Austria

![Raiffeisenbank branch in Russia against the backdrop of EU sanctions headline: bank building with signage, pedestrians, and street scene](https://xab.info/media/2026/07/14/sanktsii-protiv-raiffeisenbanka-raznoglasiya-v-es/sanktsii-protiv-raiffeisenbanka-raznoglasiya-v-es-1.webp)

A new round of discussions is unfolding within the European Union, which could become a turning point for the Austrian Raiffeisen Bank International (RBI). According to Bloomberg, the 21st package of anti-Russian sanctions may include measures specifically targeting this bank. However, despite the pressure, EU countries have not yet reached a consensus on this issue. The main stumbling block is the complex situation regarding assets and the inability of the bank to exit Russia quickly.

### Sisyphean labor: Why RBI cannot leave Russia

The RBI management initially counted on a quick end to the conflict in Ukraine and the possibility of returning to normal business operations. However, attempts to sell the Russian subsidiary in recent years have not been successful. Bank representatives admitted that the process of exiting Russia has turned into "Sisyphean labor".

The complexity of the situation lies in the fact that Russian authorities were not interested in the departure of a foreign bank. Raiffeisenbank was viewed as one of the key channels for money transfers to Europe. Any exit deal requires the coordination of a number of parties: from Austria and Russia to the US and personally President Vladimir Putin. Against this backdrop, restrictions on business development in the Russian Federation remain in place, and lending has practically come to a halt.

### Financial losses and lawsuits

The economic consequences of the stalemate for RBI have been significant. The bank's Russian business recorded a net loss of €86 million for 2025, a sharp contrast to the €873 million profit the previous year. The bank was forced to limit outgoing euro payments and reduce international operations, although access to operations remained for certain large Russian companies.

One of the main obstacles to exit was the situation surrounding the shares of the Austrian construction company Strabag. In 2023, RBI planned to acquire 27.78% of Strabag shares from Rasperia Trading (previously linked to Oleg Deripaska) for €1.51 billion. The deal fell through due to a lack of coordination from EU authorities and subsequent sanctions against Rasperia.

In response to the failed deal, the Russian side obtained a court ruling obliging Raiffeisenbank to pay €2 billion plus interest and to accept the Strabag shares. RBI states that enforcing such a ruling is impossible within the current sanctions regime. Currently, the EU is discussing the possibility of lifting sanctions on these assets so that they can be transferred to RBI as compensation for losses in Russia.