European Banks With Russian Units Help Keep Natural Gas Flowing
Western banks including Raiffeisen Bank International AG that still operate units in Russia are helping some of the last European buyers of Russian pipeline gas pay for purchases after the US sanctioned Gazprombank.
Turkey and Slovakia are both using the services of Vienna-based Raiffeisen, which runs a unit in Russia, according to people familiar with the matter. Clients broadly are using either the Russian units of Western lenders, or smaller, non-sanctioned Russian banks to pay for gas, said a person familiar with the situation at fuel supplier Gazprom.
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