Austria will approve sanctions against Russia, which it delayed due to Raiffeisen.

Austria has decided not to block the adoption of a new package of EU sanctions against Russia, although it had previously made demands regarding the affairs of Raiffeisen Bank International (RBI), reportsREUTERS .

"Austria supports continued pressure on Russia and will approve the 19th sanctions package on Monday," the agency quotes a statement from the country's Foreign Ministry.

Vienna had previously requested that the EU lift sanctions against Rasperia Trading, which would have allowed the RBI to receive a 24% stake in the construction company Strabag, which is owned by the sanctioned company.

As Reuters reported, Rasperia was previously controlled by Oleg Deripaska. He sold the company entirely, including his Strabag shares.

At the end of 2023, Raiffeisen announced that it would acquire Rasperia's stake in Strabag through Russia's Raiffeisenbank, which would then transfer the shares to the parent group as dividends.

In January of this year, the Kaliningrad Regional Arbitration Court ordered Raiffeisenbank to pay €2 billion to MKAO Rasperia Trading Limited and, in exchange, to accept an equivalent amount of Strabag shares onto its balance sheet. RBI appealed the decision, but in April, the 13th Arbitration Court of Appeal upheld it. RBI CEO Johan Strobl stated that the money in the lawsuit was already in Russia.

Other EU members did not support lifting restrictions, as notedBLOOMBERG , due to concerns that this would set a "precedent." The Financial Times reported that the EU was concerned about the potential strengthening of the position of Russian courts, which, in response to restrictive measures, order the confiscation of Western assets after the restrictions are lifted.

The new sanctions will include a reduction in the price ceiling for RussianOil prices fell from $60 to $47.6 per barrel, restrictions were imposed on the Mir payment system, 45 Russian and foreign companies, and a ban on the EXPORT of certain ores, metals, chemicals, and salts was imposed. According to EUobserver, in addition to Austria, Slovakia and Hungary also opposed the new package of restrictions.

Russia considers the sanctions illegal. Despite numerous restrictions, the country's economy continues to function, and "immunity" to the restrictions has emerged, the Kremlin noted.

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