Austria's Raiffeisen Bank denies report it has halted Russia unit sale

Raiffeisen Bank International, the largest Western bank still operating in Russia, is proceeding with the sale of its Russian unit, the bank said on Friday, rejecting a media report that the process had been put on hold. RBI has been under pressure from authorities on both sides of the Atlantic to reduce its footprint in Russia following Moscow's invasion of Ukraine, and the bank has said a sale of 60% of its business in Russia is the most likely plan. Earlier on Friday, the Financial Times reported that RBI had halted efforts to sell its Russia unit amid a rapprochement between Washington and Moscow since U.S. President Donald Trump returned to power.