Introduction
Russian investment company Rasperia has initiated a lawsuit against Raiffeisen Bank International's (RBI) local subsidiary, aiming to prevent any legal actions from occurring outside of Russia.Context
RBI has previously compensated over 2 billion euros in damages related to another case initiated by Rasperia. Recently, the transfer of interest was finalized, marking a significant milestone in RBI's efforts to secure Russian regulatory approval for the divestment of its subsidiary operating in the country.Developments
In the latest lawsuit filed on Monday, Rasperia has implicated Raiffeisenbank—RBI's subsidiary in Russia—as well as other Russian entities associated with Vienna-based construction firm Strabag. The court documents highlight Rasperia's aim to prevent the initiation or continuation of legal proceedings in courts outside of Russia.Igor Ozerskiy, Rasperia's lawyer from K&P Group, stated that the lawsuit seeks to stop the defendants from initiating arbitration in the Netherlands, demanding fines of 1 billion euros for any violations of this proposed restriction. Ozerskiy expressed confidence that a Russian court ruling in the damages case should be enforced without conditions.
Amidst these legal challenges, RBI faces mounting pressure from U.S. and European regulators to reduce its associations with Russia, actively working towards this goal.
Additionally, on the same day, a separate Russian court postponed a decision regarding a sales ban on RBI’s local unit, originally enacted in September 2024. This decision is now set to be deliberated on June 18.
RBI has publicly committed to contesting Russian court rulings that mandated damages due to a failed investment deal that was anticipated to help release some of the billions of euros currently frozen in Russia. The bank previously aimed to acquire a stake in Strabag from Rasperia but withdrew from negotiations due to external pressures from Washington.