May 22, 2024

US sanctions official at Austrian Raiffeisen Bank due to Russian actions – on March 6, 2024 at 5:27 pm

VIENNA (Reuters) – A senior U.S. Treasury Department official will travel to Vienna later this week for talks with Austrian authorities and Raiffeisen Bank International.

This was announced by the US Embassy in Austria on Wednesday. The meeting will focus primarily on issues related to sanctions on Russia.

She added that Anna Morris, a senior US Treasury official who deals with illicit international money flows and countries such as Russia and North Korea, will be in Vienna on March 7 and 8 and will meet with representatives of the Austrian financial sector and government authorities. . Morris wanted to talk to Raiffeisen Bank about its Russian bank. The plan aims to encourage financial institutions to review their participation in Russia and take damage control measures, according to the embassy.

During the visit, Morris will introduce new US sanctions authority and make sure banks understand the potential consequences of sanctions. Specifically, the goal is to give institutes incentives to take measures to refrain from doing business in the Russian military industrial base area. Otherwise, the US embassy said, banks would risk being excluded from the US financial system.

(Reporting by Alexandra Schwarz Goerlich. If you have any questions, please contact our editorial team at [email protected] (for politics and economics) or [email protected] (for business and markets).)

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