Raiffeisen Books Provision on €2 Billion Russia Court Order (1)

Raiffeisen Bank International AG said it will book a provision in its fourth-quarter results after a Russian court put its unit there on the hook for more than €2 billion ($2.08 billion) of damages.

The ruling is related to legal proceedings by Rasperia Trading — a company formerly owned by sanctioned billionaire Oleg Deripaska — against construction company Strabag SE and its main Austrian shareholders.

Raiffeisen International is involved in the case as its largest shareholder, a regional Raiffeisen bank for Vienna and Lower Austria, is also one of Strabag’s owners. Despite the indirect involvement, most of the liability has ...