Austria goes against key sanctions against Russia

Austrian derivative company, “OMV”, is one of the partners of Russian gas giant “Gazprom”, in the gas pipeline project linking Russia and Germany, which has been completed but has not yet been adopted pending green light from regulators in the EU and Germany. Austria has 31.5 per cent share in “OMV” and supports the project.

I once compared it (the gas pipeline project) to a car with no engine. It's not even functional. To discuss this in Europe as being the central element of a reliable package of sanctions against Russia, I find it pointless, logically”, the Austrian top diplomat said in a brief telephone interview for the agency “Reuters”.

The German authorities would give technical approval for operations, if it comes to the act of military aggression”, he added. However, Schallenberg said that the Ustria “would support the consensus” regarding sanctions for this project without entering into detail, the Express submits.

Apart from Russia's dependence on 80 percent of natural gas, Austria also has interests in Russia's banking sector, because this state is the largest market of the Austrian bank, “Raiffeisen Bank International”. The bank has a total of 22.9 billion euros in Russia.

The European Union has said it is ready to impose economic sanctions “Russia, if this country invades Ukraine, but officials say it depends on complicated talks between member states and far from over.

Schallenberg said the discussions are very advanced “” and that nothing is disfellowshipped but refused to provide details. “There is a strong consensus”, he added.

If there is military aggression, there should be a clear, common and powerful response from the West”, the Austrian minister said at the end.