Salty punishment for Raiffeisen in Russia. Austrian bank in a Russian trap

On October 20, a court in Kaliningrad ordered Raiffeisen Bank International to pay €342 million to a Russian company linked to Strabag. The penalty relates to a legal injunction obtained by Rasperia Trading Limited against RBI's lawsuit in Vienna. Despite a Russian court's ban, RBI pursued compensation in Austria, leading to a previous ruling favoring RBI. The dispute centers on damages from Rasperia's lawsuit, with RBI previously facing a €2 billion penalty. Raiffeisenbank's attempts to acquire Strabag shares were thwarted by U.S. pressure, and the bank has faced criticism for its continued operations in Russia amid the Ukraine conflict.