Raferson Reacts to EU Sanctions Lift and Compensation Deal

23 days ago

Chloe Malay

"Raferson is up this morning because it's going to get some compensation. The plan is to unfreeze shares worth about x2 billion in Strabag, an Austrian construction company, which were once owned by a Russian oligarch. This maneuver is part of compensating for a x2 billion fine paid earlier."

Raferson is reacting positively in the short term following news that the EU plans to lift sanctions on assets linked to a Russian oligarch, leading to a compensation deal involving unfreezing €2 billion worth of shares in Strabag. Although this move propels shares higher momentarily, there are regulatory concerns that it may encourage further circumvention of sanctions.