Austria’s government is monitoring the global banking crisis, although there are no signs yet that it will spread to the country’s financial sector, Finance Minister Magnus Brunner said in an interview published on Saturday, as cited by Reuters.

“Our banks have done their homework very well since the financial crisis. They are very well prepared,” Brunner told the Swiss newspaper Neue Zuercher Zeitung.

He also defended Raiffeisen Bank International (RBI), which has been criticized for continuing to operate in Russia despite the war in Ukraine.

The Austrian bank is now the biggest Western bank in Russia, offering a lifeline to people and companies looking to make international payments, but is under increasing pressure from Western officials and investors to exit.

In February, the bank said it had received a request for information from the US sanctions authority regarding its operations with Russia.

Last month, the RBI said it was considering a sale or possible spin-off of the Russian business.

“As far as the RBI is concerned, the bank complies with all international sanctions. He is also not subject to sanctions,” Brunner told NZZ.

He emphasized that “in addition, there are other European banks that continue to work legally in Russia. It is extremely important for us that all sanctions are observed,” he said.

The minister also said inflation in Austria, which fell to around 9.2% in March, was still too high and called on the European Central Bank to do more to limit price rises.

“The European Central Bank (ECB) in particular can do something about it, as a member of the eurozone, we are dependent on the ECB,” Brunner said.