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Austria's Raiffeisen Bank eyes sale of Russian unit

(ANSA-AFP) - VIENNA, MAR 30 - Austrian banking group Raiffeisen, one of the last major Western lenders in Russia, said Thursday it was considering a "sale or spin-off" of its subsidiary in the country. The RBI Group, which owns the bank, has been under scrutiny over its links to Russia since Moscow invaded Ukraine in February last year. Ukrainian President Volodymyr Zelensky has singled out Raiffeisenbank for criticism while the US Treasury Department's Office of Foreign Assets Control requested information about its business in Russia in January. The RBI Group said Thursday it was looking into "potential transactions which would result in the sale or spin-off of Raiffeisenbank Russia and deconsolidation of Raiffeisenbank Russia from the RBI Group". It added that it was "committing to further reducing business activity in Russia." (ANSA-AFP).