RBI: OFAC request for information

Vienna, 17 February 2023. Raiffeisen Bank International AG (RBI) has been in regular exchange with the US Treasury and US correspondent banks for years, including the sharing of experiences relating to markets where RBI is present. In January 2023, RBI received a Request for Information (RFI) by the Office of Foreign Assets Control (OFAC). The questions raised by OFAC are of general nature seeking to clarify payments business and related processes maintained by RBI in light of the recent developments related to Russia and Ukraine. RBI was informed that the RFI was not triggered by any specific transaction or business activity.

As a matter of principle, RBI maintains policies and procedures that ensure compliance with all applicable embargoes and financial sanctions. Furthermore, RBI has implemented monitoring and screening tools to comply with these policies including all applicable sanctions. RBI is in regular contact with regulators and authorities and provides requested information to the extent permitted by applicable laws and regulations. The same procedure is applied in relation to the request received from OFAC.

RBI is cooperating fully with OFAC in relation to their request and is confident that the information provided to OFAC will satisfy their request.