Stranded Profits: Raiffeisen's Russian Deal Stalls
Russian authorities opposed the deal to maintain a payments gateway.
Moscow aims to keep a financial bridge to Western markets.
The bank processes energy payments via TurkStream pipeline.
CEO Johann Strobl visited Russia to negotiate the sale.
Lending and payments require Russian approval.
Sale on hold, leading to 7 billion euros in profits stranded.
US and EU pressure, plus Ukrainian criticism, caused the issue.
An unnamed Russian investor sought to buy the stake.
Kremlin opposed the deal, and a Russian court ordered 2 billion euros.
1 month ago