01:05 AM EDT, 09/18/2026 (MT Newswires) -- Raiffeisen Bank International (RBI.VI) said Thursday it is exploring legal remedies against Grizzly Research over allegations that it helped facilitate Russian sanctions evasion. The Austrian lender said it "categorically denies" the claims in the short-seller report, including the accusation that its Russian subsidiary, AO Raiffeisenbank, served as a financial channel for bypassing Western sanctions and facilitated over $1.19 billion in prohibited trade. According to RBI, the report contained "several factual errors" and misidentified entities that AO Raiffeisenbank had either blocked or "voluntarily terminated" before being sanctioned, or that were never bank customers. "Many of the mistakes and mischaracterizations in the report might have been avoided, had the authors acted in good faith and approached RBI with questions," the lender wrote.

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