The Russian branch of Austria’s Raiffeisenbank Bank International reduced funds in its correspondent accounts 2.7-fold in August 2024, slashing the accounts by a record RUB421bn to RUB242bn, Kommersant daily reports citing the bank’s reporting. This category includes all correspondent accounts, with both Russian and foreign banks, as well as correspondent accounts with the Central Bank of Russia (CBR). Such massive movements of correspondent accounts could be directly related to a significant reduction in the bank’s cross-border transfers, the analysts surveyed by Kommersant believe. As follow…