The Czech Republic launched an investigation against Raiffeisen Bank because of its work in Russia

The National Center for Combating Terrorism of the Czech Republic is investigating the Austrian Raiffeisen Bank International (RBI) due to its work in Russia. About it informs Czech televize.

The reason for the proceedings was the appeal of the Association for the Rights of Citizens and Entrepreneurs. According to one of the authors of the letter, Ladislav Pelzl, RBI makes huge profits from its activities in Russia and pays income tax “to the budget of the Russian state.” According to him, these funds then go to finance a special operation in Ukraine.

Police spokesman Ondrej Moravczyk confirmed that an investigation into the RBI was ongoing. He declined to provide further information about the case.

The RBI is under pressure from the US Treasury and the European Central Bank (ECB). In particular, because of the bank’s activities in Russia, the Office of Foreign Assets Control (OFAC) launched an investigation. In March Reuters learned about on the ECB’s requirement for the group to leave the Russian market. At the end of the same month RBI informedthat will sell the Russian business or take it out of the group’s perimeter.

In early July, Reuters, citing sources wrotethat the group has still not provided the ECB with a plan to withdraw from Russia, making completion of this procedure by September unlikely. The interlocutors also noted that the RBI is in no hurry to leave in the hope of a speedy end to the conflict in Ukraine. In August, Group CEO Johann Strobl informedthat the bank expects to allocate Russian assets before the end of the year.

At the same time, the group points to the reduction of its business in Russia and imposes restrictions on Russian customers. In particular, from August 1, Raiffeisenbank temporarily suspended acceptance and purchase of cash currency from individuals. From September 1, the bank introduces a prohibitive commission of 50% on incoming transfers in US dollars from other banks for small and micro businesses. The minimum commission for them, as well as for individuals, will be $1,000 (but not more than the amount credited), and the maximum is $10,000.

Prior to this, Raiffeisenbank also introduced a 1.5% commission for replenishing debit cards in excess of 300,000 rubles. per month through ATMs of third-party banks, limited outgoing payments in euros to other banks in Russia and 12 other countries, etc.