Czech Republic launches investigation against Raiffeisen Bank over Russia business

The Czech national antiterrorism center has launched an investigation into Raiffeisen Bank International on suspicion of financing Russia’s aggression in Ukraine, Report informs referring to T24 channel.

By continuing to do business in Russia, the Austrian bank is financing the invasion of Ukraine, the Czech association for the rights of citizens and entrepreneurs, which filed a complaint against the bank, said.

The Austrian banking group Raiffeisen Bank International (RBI) is the largest European bank that still operates in Russia. Its profits go to the Russian state budget in the form of taxes, the association explains.

The bank, in turn, assures that it is limiting its activities in Russia. On 29 August, RBI CEO Johan Strobl confirmed that he was ready to sell the Russian subsidiary or spin it off into a separate business - he could not give any specific time frame.

Raiffeisen Bank International has been included by Ukraine in the list of international war sponsors because its Russian bank continues to operate more than a year into the full-scale war.