VIENNA, March 15. /TASS/. The Austrian Ministry of Finance does not see any signs of potential sanctions circumvention by Austria-based Raiffeisen Bank International (RBI) amid reports of RBI’s interest in acquiring control over the assets of Sberbank Europe in a swap deal, the ORF radio station said on Wednesday, citing a ministerial statement.
"There are no reasons for the bank regulator to conduct an inspection because RBI is regulated by the European Central Bank. Furthermore, the Ministry has not noticed any signs of sanctions circumvention by Raiffeisen or any other Austrian bank. The sale of assets of the ex-Sberbank Europe in Austria and in Europe is an ordinary procedure," the radio station said, citing the Finance Ministry.
RBI is studying the option of conducting a swap with Sberbank of RBI’s Russian subsidiary, Raiffeisenbank, for the assets of Sberbank Europe, the Der Standard newspaper said earlier on Wednesday. The Austrian banking group termed it as just "a theoretical consideration."
The Austrian financial regulator revoked Sberbank Europe’s banking license in December 2022. As the Russian banking group is under EU sanctions, the consent of the National Bank of Austria would be required to carry out the deal.