The US puts pressure on Austria and Raiffeisen Bank International to withdraw from the Russian market

Senior U.S. officials are increasing pressure on Austria and Raiffeisen Bank International, emphasizing the dangers of doing business in Russia and demanding that the largest Western bank complete its exit from the Russian market. This became known according to Reuters.

According to new reports, as part of Washington's ongoing pressure, Anna Morris, a U.S. Treasury official, will actively promote the inspection of Austrian banks' vulnerabilities in Russia. She will announce new US sanctions that have "increased the risks for banks" and urge them to "protect themselves from trade related to Russia's military-industrial base to avoid being cut off from the US financial system."

It should be noted that the United States wields the greatest regulatory influence in the world, the main reason being its ability to block a bank's access to the dollar, the main currency of international finance. Losing access to the dollar could be critical for any bank.

Morris intends to visit Austria, one of the European countries with complicated relations with Russia. Her strong warning is another attempt to put pressure on Raiffeisen Bank International, which massively processes payments to and from Russia.

The visit follows an executive order issued by US President Joe Biden last December that could impose penalties on financial institutions that help Russia avoid sanctions.

The news of Morris' intention to visit government agencies and companies in Austria to discuss money laundering and sanctions was confirmed by a spokesperson for the Austrian Ministry of Finance.

Raiffeisen Bank International, a key member of the Austrian industrial association, always complies with the established rules and regulations.

Austrian politicians and officials have shown strong resistance to pressure from Washington, protecting the interests of Raiffeisen Bank International.