0815 GMT - Raiffeisen could potentially see a positive outcome to the verdict from a Russian court depending on the Austrian legal proceedings, Citi says in a note. The Austrian bank was found liable to pay 2.04 billion euros in damages to Russian firm Rasperia Trading. The case is linked to Raiffeisen's purchase of Strabag shares via its Russian subsidiary in 2023. "We estimate that the hit, once offset by likely enforcement of legal recourse against Rasperia's Austrian assets, might be lower at circa 630 million euros, although it is uncertain how much value auditors will attribute to the assets as they are subject to an asset freeze under EU sanctions," analyst Simon Nellis writes. The outcome could entail the extraction of around 1.42 billion euros out of Russia though this remains highly uncertain, he adds. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

January 22, 2025 03:15 ET (08:15 GMT)

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