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Too early to know full impact of sanctions, Raiffeisen says

Too early to know full impact of sanctions, Raiffeisen says
Too early to know full impact of sanctions, Raiffeisen says   -   Copyright  Thomson Reuters 2022
By Reuters

BERLIN – Austria’s Raiffeisen Bank International said it could not provide a final picture of the impact on its business of sanctions against Russia since they were being extended on an almost daily basis.

The group, which operates banks in countries including Ukraine and Russia, said it was still offering its full spectrum of services in Ukraine, and would continue to do so provided this did not endanger staff or customers.

“The sanctions are being extended almost daily and therefore no final assessment can be given yet,” Raiffeisen said. “They are tough and far-reaching in their impact on the financial markets and the real economy.”