RBI says Russian court orders it to pay €342 million in penalties

Strabag SE

Tue 15:59

VIENNA, Oct 20 (Reuters) - Raiffeisen Bank International (RBI) RBIV.VI said on Tuesday that a Russian court has ordered a local unit of the Austrian lender to pay an additional penalty of €342 million to Russian firm Rasperia as part of a long-running dispute over construction company Strabag STRV.VI.
Last month, RBI said a Vienna court issued a default judgment against EU-sanctioned Rasperia, ordering it to pay damages of about €3.15 billion
An RBI spokesperson said the Russian ruling on Tuesday was an expected reaction to the Vienna case
RBI's claim stems from a dispute over a failed 2023 deal, under which its Russian unit planned to acquire Rasperia's stake in Strabag, a transaction later abandoned because of sanctions concerns
A Russian court subsequently ordered RBI's Russian subsidiary to pay €2 billion in damages to Rasperia, prompting the Austrian lender to pursue compensation through Rasperia's frozen assets in Austria
Rasperia could not immediately be reached for a comment

 (Reporting by Alexandra Schwarz-Goerlich and Elena Fabrichnaya 
Writing by Ludwig Burger
Editing by Emanuele Berro)
 ((ludwig.burger@thomsonreuters.com))