VIENNA, March 22. /TASS/. More than 90% of Western companies remain in Russia, having taken a wait-and-see attitude, Austria's foreign minister Alexander Schallenberg said in an interview published by Reuters on Wednesday.

"Let's get real, 91% of Western companies are still in Russia and doing what is sensible: waiting, containment, ring fencing," he said.

Commenting on operations of Raiffeisen Bank in Russia, the minister noted that Austrian companies stick to Austria’s rules and the European Union’s sanctions policy, adding that other Western financial organizations, including Bank of America, remain present in Russia as well.

Some Austrian officials "harbor hopes for a quick conclusion to the war and a return to more normal relations with Russia," the agency said citing people familiar with the matter.

Raiffeisen Bank, a subsidiary of one of the largest Austrian banking groups Raiffeisen Bank International AG, has been operating in Russia since 1996. Raiffeisen Bank is the tenth-biggest lender in terms of assets among Russian credit organizations.

Earlier, Reuters said that the US sanctions authority launched an inquiry into Raiffeisen over its business related to Russia.

Raiffeisen Bank, a subsidiary of one of the largest Austrian banking groups Raiffeisen Bank International AG, has been operating in Russia since 1996. Raiffeisen Bank is on the list of systemic credit organizations in Russia.