Raiffeisenbank to cease dollar transfers from Russia

Austria-based Raiffeisenbank announced that it will cease dollar-denominated money transfer operations from Russia.

Moscow In a written statement from Raiffeisenbank’s center in Russia, it was stated that correspondent banks conducting money transfers in dollars had changed their requirements.

The statement indicated that Raiffeisenbank could not intervene in these changes, and therefore, as of June 10, money transfer operations in dollars from Russia would be terminated.

The statement also mentioned that there would be no restrictions on transfers to Russia or transfers in other currencies.

International media reports previously suggested that Western countries had pressured Raiffeisenbank, one of the largest European banks operating in Russia, to restrict its activities in the country.

source: prepared by Melisa Beğiç

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