Raiffeisen Bank’s AGM disrupted by protests over ties to sanctioned Russian companies

April 3, 2025

Raiffeisen Bank’s AGM was disrupted by a wave of protests inside and outside the venue, following recent revelations about its transactions with state-linked entities in Russia.

Activist groups BankTrack, B4Ukraine, Attac Austria and WeMove Europe led the demonstrations outside the AGM venue in Vienna as well as around the headquarters of the bank and its largest shareholder, the Raiffeisenlandesbank Niederösterreich-Wien.

Inside the AGM, activist shareholders accused the bank of "warmongering" and demanded answers regarding recent revelations that Raiffeisen's Russian investment manager had invested millions in sanctioned Russian companies.

Raiffeisen Bank, the largest foreign bank in Russia, maintains that it is actively working to sell its Russian unit and strictly follows policies to ensure compliance with all relevant sanctions and human rights regulations. However, a series of recent investigations have raised significant concerns about the effectiveness and scope of these policies.

Since early February, Raiffeisen has faced heightened scrutiny over allegations that its network of Russian subsidiaries continue to provide services to military suppliers, maintain investments in sanctioned Russian entities and played a key role in enabling the transfer of billions of euros in foreign currency to Russia at the start of its invasion of Ukraine.

In their opening speeches at the AGM, Raiffeisen’s executives dismissed and questioned the credibility of these investigations. CEO Johann Strobl argued that the bank’s Russian operations "receive too much public attention, overshadowing the bank’s strong overall results."

Aleksandra Zielińska, senior campaigner at WeMove Europe, said: "More than 52,000 Europeans already sent a clear message: we want peace, and we want to stop funds from reaching Russia. European governments and banks need to see that people across the continent demand action to cut off financial support for Putin’s war machine."

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