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Midweek Roundup: Austrian Bank Helped Russian Military, Western Sellers Reinforce ‘Shadow Fleet,’ and More

Austrian lender Raiffeisen Bank International's affiliate in Moscow provided financial services to companies that supply the Russian military, Bloomberg reported. More Hungarian authorities fined Raiffeisen's local branch €41 million for breaching due-diligence and risk-assessment requirements, Daily News Hungary reported. More Western sellers have made at least $6.3 billion from reinforcing Russia's sanctions-evading "shadow fleet" of oil tankers with hundreds of aging vessels that they sold to shell companies, an investigation by the Organized Crime and Corruption Reporting Project found. More TD Bank has named long-time head of personal banking Raymond Chun as chief executive officer and tasked him with leading...

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