Raiffeisen Bank reported that it maintains plans to reduce business in Russia

Raiffeisen Bank International (RBI) will not change its plans to reduce its business in Russia, the Austrian-banking group told Izvestia on February 19.

"At the moment there are no changes in RBI's plans to reduce its business in Russia and try to deconsolidate the Russian network bank through a sale," the RBI press service said.

It explained that RBI has accepted a request from the European Central Bank (ECB) to significantly reduce its business in Russia by 2026.

On February 17, the media reported that the likely lifting of US sanctions against Russia will make things difficult for the European Union. The imposition of anti-Russian sanctions by partners on both sides of the Atlantic "has been synchronized over the past three years," and the sanctions packages of the United States and the European Union envisioned roughly the same set of measures.