ASSESSMENTS

Russia Eyes Austria's Banking Empire

Jun 20, 2011 | 12:14 GMT

MIKHAIL KLIMENTYEV/AFP/Getty Images

Summary

Russia's two largest state-owned lending banks reportedly are interested in acquiring or injecting capital into several Austrian banks. Austria historically has been the financial center for Central and Eastern Europe, the region most opposed to a resurgent Russia. If Moscow was to acquire shares in Austria's banks, it would then have influence and access to information on financial dealings in the countries along its periphery.

Austrian banks have traditionally held large amounts of their assets in Central and Eastern European countries, and it is this strategic financial position that Russia wants to acquire. (With STRATFOR graphics)...

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