Reuters
A Russian court's order for Austria's Raiffeisen Bank International to pay 2 billion euros ($2.1 billion) in damages for a collapsed deal shows Moscow's determination to strike back at the West, with companies bearing the brunt of the fallout. Monday's ruling, delivered to a courtroom where armed men in balaclavas sat among those involved in the case, is a blow to the biggest Western bank in Russia, which has made billions of profits there during nearly three years of conflict with Ukraine. It marks a watershed for the bank that has provided a payments bridge for Russia's middle class and companies into the West, requiring Raiffeisen to set aside a substantial amount for the loss even as it seeks to challenge the ruling.