MOSCOW (Reuters) – Russian investment holding company Rasperia is demanding that a Russian court force the sale of its frozen stake in Vienna-based construction group Strabag to the Russian unit of Raiffeisen Bank International, Russia’s Vedomosti daily reported.
The Russian court’s freezing of RBI’s shares in local arm Raiffeisenbank has blocked the biggest Western bank in Russia from leaving and is frustrating Western efforts to force RBI to sever ties with Moscow.
Reuters could not immediately verify the report, in which Vedomosti cited case materials, lawyers for Rasperia and Raffeisen, and other legal experts.
A lawyer for Rasperia said its position was dictated by the norms of Russian legislation, Vedomosti reported. A lawyer for RBI said Rasperia was trying to shift problems caused by the sale of its Strabag stake to RBI falling through.
RBI declined to comment. Rasperia did not immediately respond.
Strabag said it would defend its legal position and stressed that it had properly implemented the asset freeze imposed by the EU on its shares.
RBI said in September that the Russian court freezing its local arm’s shares ruled out a sale of the bank, and said it would attempt to reverse the court’s decision.
It was not immediately clear whether Rasperia’s move would have any bearing on the Austrian bank’s efforts to leave Russia.
(Reporting by Reuters; Writing by Alexander Marrow; editing by David Evans)
