In the last few weeks before the attack on Ukraine in 2022, Raiffeisen Bank supplied international rumors of nine billion euros in Kaal to Russian banks. According to the Vienna Financial Institution, the Banknote trading transactions were immediately stopped.
The Raiffeisen Bank International (RBI) therefore has a shortage of explanation because of its activities with Russia. According to the research platform for organized Crime and Corruption Reporting Project (OCCRP), the RBI delivered nine billion euros to Russian banks in January and February 2022, ie immediately before Moscow’s attack. And that in cash in the form of banknotes in Euro, American dollars and Swiss francs. It is said that a total of 189 transactions took place in these few weeks through the Russian money transport company TBSS.
“Things you don’t talk about”
The RBI defends itself against the accusation that it has indirectly supported Putin’s war. Banknot trade has been working for many years. For safety reasons this is a sensitive company that you don’t talk about, it is said. However, the fact is that at the start of the war on 24 February 2022 money transport to Russia was immediately stopped. Despite the difficult security situation, Ukraine will continue to provide banknotes in foreign currency to support the financial system in the country, said RBI spokesperson Christof Danz.
The criticized billions also only went to Russian commercial banks and not to the state or the army. However, the requested amount of cash is remarkably larger than normal, confirms the RBI. Apparently the already emerging crisis has led to the fact that Russian banks and private individuals exchanged great things in Western currencies as a precaution. As is known, hundreds of thousands of richer Russians have been moved abroad since the start of the war. Large shifts of gold coins – especially in the Arab Emirates – were also found.
The RBI recently drove back the company of its Russian subsidiary with loans and savings with about a third and sold the bank in Wit -Russia.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
