Raiffeisen accused of $1.2 billion transactions with sanctioned Russian arms industry

An American hedge fund that profits from falling stock prices has accused Raiffeisenbank of facilitating at least $1.2 billion in transactions with a sanctioned Russian arms manufacturer. Following the report's release, RBI shares fell sharply. Since the outbreak of war, Raiffeisen has maintained extensive operations in Russia, a practice that has long drawn controversy in the West.