US warned Raiffeisen access to dollar system could be curbed over Russia

The US has warned Raiffeisen, an Austrian bank, that its access to the dollar system could be curbed if it continues to facilitate transactions for Russian entities. The warning comes amid escalating tensions between Washington and Moscow over Russia’s invasion of Ukraine. Raiffeisen has yet to respond to the warning, but experts believe that losing access to the dollar system could have serious consequences for the bank’s operations.

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