Austria Stalls Russia Sanctions Over Raiffeisen Compensation

Austria is stalling the implementation of the European Union's latest sanctions against Russia, citing concerns over the potential impact on its domestic bank, Raiffeisen. The country is demanding that the EU unfreeze assets linked to Russian tycoon Oleg Deripaska, in order to compensate Raiffeisen for its exposure to Deripaska's businesses. Raiffeisen, one of Austria's largest banks, has significant investments in Russia and is seeking to mitigate the financial consequences of the sanctions. The Austrian government's stance has delayed the adoption of the new sanctions package, which is aimed at increasing pressure on Russia over its invasion of Ukraine. The dispute highlights the complex geopolitical and economic considerations that governments must balance when implementing sanctions against Russia. Austria's position reflects the potential for domestic economic concerns to complicate the EU's unified response to the conflict.