Raiffeisen Bank Loses Money
Raiffeisen Bank International, a big bank in Austria, has lost money for the first time in nine years. This is because they had to pay $867 million as a result of a bad court ruling in Russia.
The bank was operating in Russia, but wanted to leave the country. However, Russian courts have been making it hard for them to do so. One court even blocked the transfer of Raiffeisen’s shares in September 2024. This means that the bank can’t easily get out of Russia.
The bank also can’t take money from its Russian business back to Austria. As a result, they have saved $4.5 billion in extra capital in Russia.
Raiffeisen Bank Earned Money in Russia
In the first three quarters of 2023, Raiffeisen’s Russian branch made over $1 billion and paid $284 million in taxes to Russia. This was about half of the bank’s total profits for that period.
Ukraine’s Energy System Hit Hard
Emergency power shutdowns were introduced in eight Ukrainian regions due to high energy consumption and Russian attacks on Ukraine’s energy system.
Number of Poles Supporting Ukraine Drops
A survey found that 49% of Poles now support continued military aid to Ukraine, down from 54% in the previous year.
Ukraine’s Energy Independence Plan
The European Commission and Moldova have signed a two-year plan for energy independence and resilience. This includes $258 million in funding for Moldova.
Russian Military Unit Commanders Sue Families of Dead Soldiers
It has been reported that most of these lawsuits were initiated by Russian military unit commanders who wanted to remove missing soldiers from personnel rosters. This allows them to recruit new soldiers to replace the dead ones.
Seven People Remain Hospitalized After Attack
