Shares in Raiffeisen Bank International AG dropped in early trade Monday after it disclosed that it had received a request for information from the Office of Foreign Assets Control, the U.S. Treasury Department unit that enforces sanctions, last month.
At 0819 GMT, shares in the Austrian bank
were down 6.9% at 15.32 euros ($16.39).
“The questions raised by OFAC are of general nature seeking to clarify payments business and related processes maintained by RBI in light of the recent developments related to Russia and Ukraine,” Raiffeisen said in a statement late Friday.
The bank said the information request wasn’t triggered by any specific transaction or business activity and that it is cooperating fully with OFAC.
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Raiffeisen said it maintains policies and procedures to ensure compliance with embargoes and sanctions and that it has been in regular exchange with the U.S. Treasury for years.
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