The Vienna Regional Court has ordered Rasperia Trading Limited, a Russian company subject to sanctions that holds shares in the Austrian construction group Strabag, to pay Raiffeisen Bank International approximately 3.15 billion euros in damages. The information was reported by Reuters.
Rasperia has four weeks to appeal the court’s decision; if it fails to do so, the ruling will become enforceable. If the company does not appeal the decision, Raiffeisen Bank will ask Austria’s financial regulator to unfreeze Rasperia’s assets in order to collect the funds.
The frozen assets include 28.5 million Strabag shares, dividends accrued since 2021, and funds to be received from the company’s capital reduction in March 2024.
It is worth noting that Raiffeisen Bank International has not yet exited the Russian market and continues to operate in Russia. The bank’s director noted that the issue of withdrawal does not depend solely on their decisions.
The dispute arose over a deal that fell through in 2023, when Raiffeisen’s Russian subsidiary planned to acquire Rasperia’s stake in Strabag. The deal was canceled due to risks associated with sanctions. Subsequently, a Russian court ordered Raiffeisen to pay Rasperia approximately 2 billion euros, prompting RBI to file a lawsuit in Austria seeking compensation for the losses incurred.
