FRANKFURT/VIENNA, May 15 (Reuters) – Raiffeisen Bank International (RBIV.VI), opens new tab was warned by the U.S. Treasury in writing that its access to the U.S. financial system could be curbed because of its Russia dealings, according to a person who has seen the correspondence.
On May 6, Deputy Secretary of the Treasury Wally Adeyemo sent a letter to RBI, expressing concern about RBI’s presence in Russia as well as a $1.5 billion deal with a sanctioned Russian tycoon that the bank has since scrapped, according to the person, who requested anonymity because the matter is private.
While the deal linked to Oleg Deripaska was ditched by Raiffeisen days after the letter arrived, the source said that the U.S. Treasury’s concerns over the Austrian bank’s business in Russia remain.
The warning is the strongest yet to the biggest Western bank in Russia and follows months of pressure from Washington, which has been looking into RBI’s business in the nation for more than a year.
It underscores the deep frustration in Washington with the lender despite its recent decision to abandon a deal that had exacerbated those tensions.
Source: REUTER
