Austria puts pressure on the EU: will sanctions be lifted against Deripaska’s company for Raiffeisen and Strabag?
8 October 20:46
The European Union is discussing a proposal promoted by Austria to lift sanctions against Rasperia, a company linked to Russian oligarch Oleg Deripaska. This was stated by Raiffeisen CEO Johann Strobl to journalists in Vienna, Bloomberg reports, "Komersant Ukrainian".
The initiator was Raiffeisen Bank International (RBI), which seeks to compensate for losses from court decisions in Russia and gain control of 24% of the shares of the Austrian construction giant Strabag.
The bank’s CEO Johann Strobl said that this would help withdraw frozen funds from Russia and at the same time resolve the conflict over Rasperia.
Why it is controversial
- Some EU countries believe that such a move would set a dangerous precedent: actually rewarding a company that is still operating in Russia after a full-scale invasion.
- Raiffeisen continues to be one of the key financial players in Russia: its Russian business brings it the most profit, although the bank cannot withdraw dividends due to restrictions.
- Critics say that if an exception is made for RBI, other companies will demand similar concessions.
What Raiffeisen proposes
- Transfer 24% of Strabag from Rasperia to the bank.
- Use this mechanism as a way to compensate for losses after a Russian court ordered RBI to pay Rasperia more than €2 billion.
- In the future, the bank may sell its stake in Strabag if the deal is approved by Brussels and Moscow.
Strobl emphasizes:
“There is a way to change the situation so that the money does not stay in Russia.”
How the EU is reacting
- Austria is lobbying for an exemption for Raiffeisen, but a number of member states are resisting.
- The key reason for the resistance is that Russia uses Western companies to exert financial pressure and at the same time forces them to make payments to structures linked to oligarchs.
- The final decision has not yet been made: discussions are ongoing as part of the preparation of the next package of sanctions.
Why it matters
- This is a test for EU unity in sanctions policy.
- The fate of Strabag, one of the largest construction companies in Europe, depends on the decision.
- The situation shows how Moscow uses courts and frozen assets to influence European corporations.
Rasperia is a company associated with billionaire Oleg Deripaska, who owned a quarter of Strabag’s shares. After the EU sanctions, they were frozen.
In 2023-2025, Raiffeisen tried to buy out this stake, but due to Strabag’s refusal and the intervention of Russian courts, the bank lost the case.
In May 2025, the Russian Central Bank forcibly debited €1.87 billion from Raiffeisen’s accounts in favor of Rasperia.
Meanwhile, the European Central Bank is putting pressure on the bank to reduce its business in Russia, which remains RBI’s most profitable division.
