Raiffeisen Bank faces legal steps to unlock frozen Russian assets

Vienna's civil court issued a landmark judgment granting Raiffeisen Bank and its Russian subsidiary compensation linked to frozen assets of Rasperia. Those assets comprise a block of Strabag shares, dividends since 2021, and a cash payout from March 2024, all immobilised under EU sanctions. The Russian entity has a limited window to appeal, but its lawyers have already withdrawn related lawsuits in Russia, suggesting little resistance.

Should the decision become binding, Raiffeisen must apply to the Financial Market Authority for permission to release the Strabag shares, a step that could take six to twelve months. The bank is exploring whether a custodian will sell the shares on its behalf or if it will manage the sale directly. The outcome will reshape Strabag's shareholder structure, as Rasperia currently holds a significant stake.