Raiffeisen could receive billions from the assets of Russian oligarch Deripaska

The European Union is considering unfreezing assets linked to Russian oligarch Oleg Deripaska in order to compensate Raiffeisen Bank.

The Austrian bank is facing a ruling by a Russian court that it must pay €2 billion in damages to Deripaska's former company Rasperia. This money could come from shares in the company Strabag, which were frozen under EU sanctions.

The proposal for an exemption from the sanctions was put forward by Austria. It is part of a new EU sanctions package against Russia. However, some EU states are resisting the move, fearing it could set a dangerous precedent.

Critics warn that the move could legitimize Russian courts and encourage other oligarchs to take similar action.

Raiffeisen has not yet commented on the case, and the European Commission has also remained silent. Meanwhile, the bank has repeatedly failed in its attempts to sell its Russian subsidiary—according to sources, due to Moscow's concerns about further sanctions.

(reuters, lup)