RBI statement regarding the Reuters article of 15 May 2024

RBI does not see its access to the U.S. financial system at risk. The letter quoted by Reuters was the latest in an ongoing and regular exchange with the US Treasury regarding RBI’s business in Russia, and this dialogue continues, also after having announced to walk away from the STRABAG-deal. 

Since the beginning of the war, the loan volume of Raiffeisenbank Russia has been reduced by 58 per cent (as 31 March 2024).  The payment transaction business has been significantly reduced and all correspondent banking relationships with Russian banks have been terminated (with the exception of Raiffeisenbank Russia). The reduction of the Russian business will continue. RBI is still working on deconsolidating Raiffeisenbank and is aiming to sell it.