RBI obtains default judgment against Rasperia in Austria

The Vienna Regional Court for Civil Matters today issued a default judgment against Rasperia Trading Limited (Rasperia) at the request of Raiffeisen Bank International AG (RBI) and its Russian subsidiary AO Raiffeisenbank, ordering Rasperia to pay damages of approximately 3.15 billion euros. The issuance of the default judgment was preceded by a consistency check by the competent court, in which the presentation of facts was found to be justified and admissible. If Rasperia does not file an appeal within four weeks, the judgment will become final. RBI would then, as the next step, submit an application to the FMA, the competent sanctions authority, to release Rasperia’s Austrian assets in order to enforce its claim for damages.

These assets, which are frozen due to EU sanctions, consist of 28.5 million STRABAG SE shares, dividends for the financial years from 2021 onwards, and a cash distribution from the capital reduction of STRABAG SE in March 2024.

RBI is acting in accordance with European sanctions law and in close coordination with the supervisory authorities.

“We have a responsibility to the shareholders of Raiffeisen Bank International to effectively address the damage incurred in Russia. Today’s judgment is an important step in this process,” commented Michael Höllerer, CEO of RBI, on today’s ruling.