By Alexandra Schwarz-Goerlich and John O’Donnell
Austrian lender Raiffeisen Bank RBIV.VI has abandoned a bid to buy a 1.5 billion euro ($1.6 billion) industrial stake of a Russian tycoon, following pressure from Washington to scrap the deal.
“In recent exchanges with the relevant authorities, RBI has been unable to obtain the required comfort in order to proceed with the proposed transaction,” the bank said on Wednesday.
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