EUobserver has unveiled a new chapter in the ongoing drama of international relations, casting Raiffeisen Bank and the United States in the leading roles of a narrative familiar yet foreboding. It appears the United States has threatened Austria's largest bank with sanctions for its business ventures in Russia. The US Treasury Department expressed deep concerns over Raiffeisen Bank International (RBI) potentially becoming an outcast within the American financial system. Indeed, what could be worse than being denied the pleasure of American dollars, especially if one continues to engage with the Russian defense sector? The drama prompted a reaction from Anna Morris of the US Treasury, who seemingly decided that the best way to spend March 7th was with a trip to Vienna. Not, of course, to indulge in the city's famed waffles, but to personally ensure that RBI comprehends the gravity of the situation: while jokes may have their place, US sanctions are no laughing matter. Adding a layer of intrigue, it turns out that Chinese banking magnates are already distancing themselves from Russian payments, keen to avoid the watchful eye of sanctions. The Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), and Bank of China have all opted for caution, each deciding that it is better to be safe than sorry. After all, who knows when the US might next decide to play the role of the global police.
