Strabag
Austrian construction group whose Russian shareholder Rasperia has its rights suspended under sanctions.
Strabag SE is an Austrian construction group whose 24.1% Russian shareholder, Rasperia, has its rights suspended under sanctions; on 18 December 2025 a Kaliningrad court ruled that Strabag and its core shareholders owe Rasperia €339m.
Last refreshed: 12 October 2026
Will Rasperia's frozen Strabag stake ever change hands?
Timeline for Strabag
Mentioned in: Putin clears sale of AO UniCredit Bank
Russia-Ukraine War 2026Background
Strabag SE is an Austrian construction group led by chief executive Stefan Kratochwill. In April 2026 its shareholders were the Haselsteiner family with 27.0%, the Raiffeisen and UNIQA group with 26.7%, Rasperia Trading Limited with 24.1% and a free float of 20.0%. The rights attached to Rasperia's stake are suspended under sanctions, and Strabag paid its December 2024 cash distribution to every shareholder except Rasperia.
Attempts to unwind the stake have failed. In May 2024 Raiffeisen Bank International walked away from a deal for Strabag shares, saying it had been "unable to obtain the required comfort" from the relevant authorities; press reports linked the decision to US Treasury warnings. The dispute then moved to Russian courts, and on 18 December 2025 a Kaliningrad court awarded Rasperia €339m against Strabag and its Austrian core shareholders. AO Raiffeisenbank appealed and booked a €339m provision.
Strabag is the counter-example to exits Moscow approves, such as the UniCredit sale cleared on 5 October 2026.