Ad Verteisa

Raiffeisen bank is still operating in russia. Despite five years of promises, Raiffeisen continues to operate in russia. Its russian subsidiary remains one of the few major banks not under sanctions, facilitating russia’s international transactions and holding billions in assets. An investigation by the American firm Grizzly Research and Ukrainian investigative journalists from Schemes revealed the bank’s involvement in transactions linked to russia’s military-industrial complex. An analysis of $1.75 billion in customs records identified $106 million in transactions involving goods intended for russia’s defense industry. Journalists also documented direct payments under russian state defense contracts to a company called Kvalitet, which supplies products to the russian military. You would think that Austria would know better, given their history, as to collaborate with a modern-day Hitler. Yet Raiffeisen generates tax revenue for the russian government, which uses its budget to finance the war against Ukraine. And it actually directly serves russian military by enabling transactions linked to military contracts.