In a Saturday interview, Finance Minister Magnus Brunner claimed that Austria’s financial industry is not affected by the global banking crisis.
“Our banks worked hard following the financial crisis. They are well-prepared, “Brunner told Switzerland Neue Zuercher Zeitung.
He supported Raiffeisen Bank International (RBI) (RBIV.VI) for operating in Russia despite the Ukrainian war.
The Austrian bank is Russia’s most significant Western bank, helping Russians make foreign payments, but Western authorities and investors are pressuring it to leave.
In February, the US sanctions body requested details regarding the bank’s Russia business.
RBI considered selling or spinning off the Russian company last month.
“RBI follows international sanctions,” Brunner told NZZ. “That is also not sanctioned,” he continued.
“Some European banks operate lawfully in Russia. We need all sanctions enforced “he remarked.
The minister also called on the European Central Bank to curb Austrian inflation, which dipped to 9.2% in March.
“The European Central Bank (ECB) in particular can do anything about this,” Brunner remarked.
Comment Template