RBI will refuse to buy back Deripaska’s frozen stake due to US pressure – Kommersant
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The Austrian authorities and the management of the Raiffeisen Bank International (RBI) group will withdraw consent to a deal to buy out 27.78% of the shares of Strabag SE, the share of the structure of Russian businessman Oleg Deripaska, frozen due to sanctions, for €1.5 billion, reports Reuters with reference to sources.
US authorities believe that the beneficiary of the purchase will be Oleg Deripaska, who is under US sanctions. In this regard, US financial officials demanded that the Austrian group provide a complete list of participants in the transaction. If the RBI carries out the buyback and the deal is found to have violated US sanctions, the US will fine the bank, agency sources said.
“In light of the US position, one person said Austrian authorities would hold off on giving the green light, while another said the bank itself was preparing to walk away from the deal,” the Reuters report said.
The bank told Reuters that the deal does not violate sanctions. A spokeswoman for Oleg Deripaska referred to past statements in which she said the billionaire does not control the company that owns a stake in Strabag SE.
The formal structure of the deal: RBI’s subsidiary Gabarts, led by Stefan Zohling (former top manager of several of Mr. Deripaska’s companies), will buy a 27.78% stake in Strabag SE. The share in Strabag SE has belonged to the company Rasperia, owned by Oleg Deripaska, since 2007.
The day before the newspaper The Washington Post reported on the recent visit of US Treasury Department employee Anna Morris, who is responsible for identifying illicit cash flows, to Vienna. There she met with representatives of the Austrian authorities and the banking industry, including the RBI. The US Treasury Department told the newspaper that the visit was part of a broader international effort aimed at clarifying the new sanctions powers. Similar meetings were held in Turkey and the UAE.
Read more about RBI’s financial performance in Russia – “RBI reduces profits from Russia”.
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