This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/573430-eu-delusional-decouple-russia/
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Member state claims EU ‘delusional’ in push to ‘decouple’ from Russia | Member state claims EU ‘delusional’ in push to ‘decouple’ from Russia |
| (about 11 hours later) | |
| Austria's Alexander Schallenberg was defending Raiffeisen Bank over its business in Europe's largest country | Austria's Alexander Schallenberg was defending Raiffeisen Bank over its business in Europe's largest country |
| Russia will always remain important for the European Union, Austria’s foreign minister told Reuters on Wednesday. Alexander Schallenberg was responding questions about Raiffeisen Bank’s continued operations in the sanctioned country. | Russia will always remain important for the European Union, Austria’s foreign minister told Reuters on Wednesday. Alexander Schallenberg was responding questions about Raiffeisen Bank’s continued operations in the sanctioned country. |
| The diplomat made his comments after the US government launched a probe last month into the Austrian lender over its dealings in Russia. | The diplomat made his comments after the US government launched a probe last month into the Austrian lender over its dealings in Russia. |
| “Let’s get real,” he said. “91% of Western companies are still in Russia and doing what is sensible: waiting, containment, ring fencing.” | “Let’s get real,” he said. “91% of Western companies are still in Russia and doing what is sensible: waiting, containment, ring fencing.” |
| Raiffeisen Bank International is Austria’s second-largest lender and, despite sanctions, still plays a critical role in the Russian economy. It’s one of only two foreign banks on the Russian central bank’s list of 13 systemically important credit institutions. The other is UniCredit, a pan-European commercial bank. | Raiffeisen Bank International is Austria’s second-largest lender and, despite sanctions, still plays a critical role in the Russian economy. It’s one of only two foreign banks on the Russian central bank’s list of 13 systemically important credit institutions. The other is UniCredit, a pan-European commercial bank. |
| “To think that there won’t be Russia anymore and we can decouple in all areas is delusional,” Schallenberg told Reuters, adding that while Austria would loosen ties, this “can’t happen overnight.” | “To think that there won’t be Russia anymore and we can decouple in all areas is delusional,” Schallenberg told Reuters, adding that while Austria would loosen ties, this “can’t happen overnight.” |
| Schallenberg also discouraged the EU from introducing further sanctions against Russia. | |
| “It is a very blunt weapon,” he said. “We’ve had massive sanctions packages. Give them time to work.” | “It is a very blunt weapon,” he said. “We’ve had massive sanctions packages. Give them time to work.” |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |