The European Parliament sent a letter to Austria's leaders on Thursday, calling on them to press Raiffeisen Bank International (RBI) to end its activities in Russia, in compliance with EU sanctions.

The Vienna-based bank group, the largest Western bank still operating in Russia, has faced mounting pressure since the beginning of the war to reduce its operations in the country.

The letter by the European Parliament, directed to Austrian Chancellor Karl Nehammer, Finance Minister Magnus Brunner, and Foreign Affairs Minister Alexander Schallenberg, mentioned reports suggesting that Raiffeisen was intending to maintain and expand its operations in Russia. 

"We deeply regret that Raiffeisen Bank International's statements and actions are fully contradictory," the letter stated.

"Instead of repeated statements about intentions to reduce and sell their activities in Russia, the Raiffeisen Bank International is the Western lender with the largest operations in Russia."

Last week, Raiffeisen said it anticipates European regulators to demand an expedited withdrawal of the bank from Russia, and affirmed its commitment to comply with such requests, Yahoo Finance reports.

The bank announced that the European Central Bank will soon request Raiffeisen to significantly reduce loans to customers in Russia by 2026. Raiffeisen stated that it would comply with this request and ultimately sell its Russian subsidiary.

However, the European Parliament argued that these statements were insufficient, asserting that Raiffeisen has no justification for maintaining and expanding its staff of nearly 10,000 employees in Russia.

"Let us be clear — activities of Raiffeisen Bank International in Russia contribute to Russia's economy and budget, and provide financial resources for continued military aggression against Ukraine," the letter added.