ZURICH, April 8 (Reuters) - Austria's govt is monitoring the global banking turmoil although there are thus far no signs of it spreading to the country's financial sector, Finance Minister Magnus Brunner referred to in an interview published on Saturday.
"Our banks did their homework very smartly after the fiscal crisis. they are very well prepared," Brunner told Swiss newspaper Neue Zuercher Zeitung.
He additionally defended Raiffeisen bank foreign (RBI) (RBIV.VI) which has come below fire for carrying on with to operate in Russia despite the conflict in Ukraine.
The Austrian lender is now probably the most critical Western financial institution in Russia, offering a lifeline to individuals and groups there in quest of to make foreign payments, but it is below transforming into pressure from Western officials and buyers to stop.
In February the financial institution said it had bought a request for suggestions from the us' sanctions authority about its enterprise involving Russia.
final month RBI mentioned it was when you consider that a sale or possible spin off of the Russian enterprise.
"As for RBI, the bank complies with all international sanctions," Brunner instructed NZZ. "it's additionally no longer discipline to sanctions itself," he delivered.
"incidentally, there are other European banks that proceed to operate legally in Russia. it is crucial for us that each one sanctions are accompanied," he mentioned.
The minister also said Austrian inflation, which fell to an estimated 9.2% in March, become still too high and referred to as on the european vital bank to do extra to comprise price raises.
"the eu vital bank (ECB) in certain can do whatever thing about this, as a member of the euro zone we are dependent on the ECB," Brunner stated.
Reporting by means of John Revill enhancing through Tomasz Janowski
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