Austrian Economic Legal Issues and Insolvencies

Crisis Around Viennese Energy Supply Company "Wien Energie"

Austria's largest energy supplier urgently needs money to hedge forward transactions. Otherwise, the company would have to realize huge losses.

August 30, 2022

Vienna Increases Fees for Public Services

The City of Vienna increases the fees for water, sewage, waste disposal as well as the prices of parking tickets. The adjustment of tariffs for municipal services is made in Vienna based on the applicable valorization law.

August 18, 2022

Media Freedom in Russia: OSCE Condemns Continued Persecution of Russian Journalists

Recently, critical journalists were persecuted and imprisoned in Russia as a common practice. The OSCE Representative on Freedom of the Media, Teresa Ribeiro, strongly condemns the continued practice of judicial persecution, which is hampering access to information and media freedom in the Russian Federation. After the recent criminal and administrative charges against journalists and media workers, Ribeiro emphasized that judicial persecution should not be tolerated.

August 17, 2022

FIFA and UNODC Against Match-Fixing in Football

For the first time, FIFA and the United Nations Office on Drugs and Crime (UNODC) have conducted a joint international training program to support FIFA's 211 member associations in the fight against match-fixing in football.

August 3, 2022

International Organisations in Vienna: What is the United Nations Commission on International Trade Law?

The United Nations Commission on International Trade Law (UNCITRAL) is based in Vienna and aims to unify and actively promote international trade law. Learn more about this international organisation in Vienna!

August 3, 2022

European Forum Alpbach Will be Opened by Moldovan President Maia Sandu

The Moldovan President, Maia Sandu, will attend the opening of this year's European Forum Alpbach (EFA) together with Federal President Alexander Van der Bellen on August 22. At the start of the event, they will jointly address the EFA's annual theme, The New Europe, and discuss what consequences, in light of Russia's Invasion of Ukraine, Europe must draw from its current weakness and its inaction in the past.

July 27, 2022

Wirecard Scandal: New Indications for Marsalek's Stay in Moscow

Former Wirecard board member Jan Marsalek, who has been in hiding for two years, could be living in Moscow under the protection of Russian intelligence services.

July 26, 2022

How the Police Files from the Uyghur Detention Camps Reveal China's Understanding of Human Rights

The leak of the Xinjiang Police Files has provided the best evidence to date of what many experts believe is an ongoing genocide against millions of Uyghurs in China. Read more about these files and what they tell the world about China's views on human rights.

July 4, 2022

Reform of the Red-White-Red Card: Facilitation for Foreign Workers

In order to cope with the acute shortage of skilled workers in Austria, access to the Austrian labour market is to be facilitated for foreign workers in the future. The application procedure is to be made easier and the criteria for obtaining the Red-White-Red Card are to be reduced.

June 29, 2022

Austria has Frozen the Assets of Russian Oligarchs Worth 1.5 Billion Euros

The Austrian authorities have frozen the assets of 1.5 billion euros belonging to Russian oligarchs since the beginning of the war in Ukraine.

June 26, 2022

Protection of the European Single Market: European Commission Wants to Control Third-Country Subsidies

The European Commission has presented a new proposal to combat competition-distorting subsidies from third countries. The background for the proposal is the increasing global imbalance between companies from the EU and those from third countries. This is primarily to counter the influence of China and Chinese companies in Europe.

May 5, 2022

Austrian Efforts to Support Ukrainian Refugees

Austria is assuring support for Ukrainian refugees. Austria takes care legally, financially and in humanitarian terms that Ukrainian refugees feel welcome in Austria. Read more about Austria's efforts to support Ukrainian refugees in Austria.

May 1, 2022

No More Masks in Retail: New Covid Rules in Vienna

Recently, the Ministry of Health announced a significant relaxation of Covid-19 measures in Austria. The mask requirement in stores will be dropped, and the green passport for triple vaccinated people will also be extended. Read on if you want to know what will change for you and in which stores you still can't do without the mask.

April 15, 2022

Opening of the New Office of the Permanent Court of Arbitration in Vienna

There is a new International Organization in Vienna. The Permanent Court of Arbitration opened a branch office in Vienna today. Read more about the newest addition to the list of international organizations in Austria.

April 14, 2022

Austrian Chancellor Met Scholz and Habeck in Berlin: "Russian Energy Embargo Not an Issue"

Olaf Scholz and Karl Nehammer recently met in Berlin to discuss the tense political situation. The Russian Federation's attack on Ukraine triggered a chain reaction of economic sanctions. Germany and Austria stand side by side as partners and want to respond to the difficulties together.

April 4, 2022

Austrian President Tells Brussels: EU Force and Zelenskyy Speech Conform with Neutrality

At meetings between the EU leaders and Alexander Van der Bellen, the President spoke about Austria's role as a neutral state in military and political matters. He saw no difficulties in inviting the Ukrainian president to Austria or in participating in the EU armed forces. The need for new energy suppliers and the current refugee problem were also discussed.

March 24, 2022

Putin's War Forces OMV to Make Most Fundamental Strategic Shift in Its History

Russia's aggression toward Ukraine is forcing OMV, the Austrian oil, gas and petrochemical group to take drastic measures. The company's management decided to stop all investment activities in Russia and to rely on alternative suppliers in the future. OMV thus joins many other companies that are slowly turning their backs on the Russian market.

March 17, 2022

Russian Operations of Strabag: Haselsteiner Cancels Syndicate Agreement with Holding Company of Oligarch Oleg Deripaska

Recently, the Haselsteiner Family Private Foundation informed the Strabag Board of Directors that it has terminated a syndicate agreement between the main shareholders. Previously, several attempts to buy up all the shares of the major Russian investor Oleg Deripaska failed.

March 15, 2022

How Gazprom Helps the Kremlin to Manipulate Austria

The Russian government uses the majority state-owned energy corporation Gazprom to exploit Europe's dependency on Russian natural gas, and Austria is no exception. Read how the Kremlin uses Gazprom to influence Austria.

March 8, 2022

Asset Management: Impact of the Russian Invasion of Ukraine on Stock Markets

By invading Ukraine, Russia has created a humanitarian crisis. At a time when heart-wrenching news footage reminds us daily that innocent people are losing their lives, discussing the market implications of such devastation can feel unseemly. The most important thing investors can do during a crisis is to simply not panic. Stock market history supports this assertion. The author examined the major geopolitical events since World War II and found that on average the Dow Jones Industrial Average was 16.40% higher 1 year later and 32.7% higher 2 years later.

March 8, 2022

Asset Management: The Consequences of the Russian Attack for Markets and the Economy

War has broken out. The markets had been in a state of tense calm over the last few days leading up to the invasion, after the continuous threats from Russia that provoked the first sanctions by the United States and Europe, but the attacks that began last week have sent shockwaves across almost all asset classes. In this context, what should investors do?

March 2, 2022

Russia's Sberbank with European Headquarters in Vienna under Pressure

The Austrian Financial Market Authority (FMA) has announced a moratorium on Sberbank Europe AG, a European subsidiary of the Russian state-owned Sberbank. Read what this means for Sberbank Europe and its customers.

February 28, 2022

Russo-Ukrainian War: First Effects of Western Sanctions on Russian Economy

The Russian economy is already beginning to feel the effects of the Western sanctions for its invasion of Ukraine. Read what effects the sanctions are having on the economy.

February 28, 2022

The Formation of an Anti-Trafficking Alliance in the Framework of the Joint Coordination Platform

Interior Minister Karner recently hosted the Return Ministerial Conference in Vienna to discuss European migration issues. Read about the conference and the formation of an Anti-trafficking alliance.

February 22, 2022

Austria's Reaction to Putin's Disrespect for the Territorial Integrity and Sovereignty of Eastern Ukraine

Following President Putin's decision to recognize the independence of Luhansk and Donetsk in the Donbas region of Ukraine and to send "peacekeeping troops" to these areas, the Austrian government's Crisis Cabinet met to discuss how to respond. Read what Chancellor Nehammer said about the act of Russian aggression and what Austria will do.

February 22, 2022

Vienna's Mayor Ludwig: "Pandemic has not yet been mastered"

Mayor Ludwig announced that Vienna will keep some of the COVID-19 measures in place despite the federal government lifting many of them. Read which measures still apply in Vienna and what the mayor and health experts said about it.

February 21, 2022

Schallenberg Met Baerbock - Shared Responsibility Against the Aggression of the Kremlin

German Foreign Minister Annalena Baerbock met with Foreign Minister Schallenberg in Berlin to discuss the tensions between Russia and Ukraine, as well as climate action and the Western Balkans. Read what the two foreign ministers said about these issues.

February 21, 2022

Naturalizations in Austria on the Rise Again Due to Descendants of Nazi Victims

Naturalizations in Austria are on the rise again, mainly due to the large number of descendants of victims of nazi persecution who applied for citizenship thanks to the amendment to Austria's Citizenship Act. Read more about this increase in naturalizations.

February 17, 2022

Austria to Poland: "No compromise on the rule of law"

EU Minister Karoline Edtstadler made Austria's position on the rule of law dispute between the EU and Poland very clear in a meeting with her Polish counterpart. Read what Edtstadler said about Austria's support for the rule of law in the EU.

February 17, 2022

Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies

The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.

February 8, 2022 · Updated: February 11, 2022; 08:35

Combating Violence Against Women: New Silent Emergency Call App Available From March

The Austrian government has introduced a new app to help counter the alarming trend of increased domestic violence against women. Read about the new app and other steps the government is taking to prevent violence against women.

February 10, 2022

Vienna Business Agency Sees Significant Increase in Expat Advice Requests

The Expat Center and the Business Immigration Office of the Vienna Business Agency saw a stark increase in the number of expats seeking advice during the COVID-19 crisis. Read about this increase and how the Vienna Business Agency has assisted expats.

February 9, 2022

President Macron Meets with EU Interior Ministers to Discuss Asylum and Immigration

French President Emmanuel Macron met with Interior Minister Karner and his EU counterparts to discuss asylum and immigration and other priorities of the French Presidency of the Council of the European Union. Read what the French president said and what was agreed upon at the meeting of the EU interior ministers.

February 7, 2022

Viennese "Marriage without Borders" Initiative Assists Binational Couples in Austria

The Ehe Ohne Grenzen (“Marriage without Borders”) Initiative offers free legal advice and counseling to binational couples in Austria. Learn more about this initiative and the work that its volunteers do.

February 4, 2022

Austria Promises Legal Action After EU Commission's Nuclear Energy Decision

Austria has vowed to take legal action against the European Commission after it decided to include nuclear energy and natural gas as sustainable investments under the EU Taxonomy Regulation. Read what the Austrian president, chancellor, and climate minister said about this decision.

February 3, 2022

German and Austrian EU Ministers Supportive of Accession Process for Western Balkans

German EU Minister Anna Lührmann met with Austrian EU Minister Karoline Edtstadler in Vienna. Read what they said about EU accession for the Western Balkan states, compulsory vaccination, and more.

February 1, 2022

Corruption Index International: Austria Loses Points for the Second Time in a Row

According to Transparency International's global corruption index, Austria has become even more corrupt and now finds itself in 13th place. The U.S. is in 67th place, and South Sudan ranks last, at 180th.

January 26, 2022

Covid in Austria: Lockdown for the Unvaccinated Ends Monday

As COVID-19 infections reached a new high in Austria due to Omicron, Chancellor Nehammer and Health Minister Mückstein announced an end to the lockdown for the unvaccinated. Read why they decided to end the lockdown and which measures still apply.

January 26, 2022

Austria First EU Country to Implement Mandatory Corona Vaccination

Austria has become the first EU country to implement mandatory vaccination against COVID-19 for all adults. Read about the new law, as well as the new incentives the Austrian government is offering for vaccination.

January 21, 2022

Israel and Austria Step Up Cooperation on Security Issues

Israeli Ambassador Mordechai Rodgold and Austrian Interior Minister Gerhard Karner met for working talks to discuss further cooperation on security issues. Read more about their meeting and what they said about the fight against anti-Semitism.

January 18, 2022

Covid in Austria: Up to 32,000 New Cases Forecasted per Day

Experts are forecasting a stark increase in the number of COVID-19 infections in Austria in the coming weeks. Read more about the current COVID-19 situation in Austria.

January 12, 2022

Omicron Has Led to Quasi-Ban on Entry of Britons, Norwegians, Danes and Dutch into Austria

Due to the rapid spread of the Omicron variant of COVID-19 throughout Austria, entry rules to Austria have been tightened. With Great Britain, Norway, Denmark and the Netherlands, four important countries of origin of tourists have been declared virus variant areas. Read about the restrictions.

December 21, 2021 · Updated: December 23, 2021; 19:35

"Golden Sunday" Returns: Austrian Non-Food Retailers Allowed to Remain Open on December 19

In an attempt to recoup some of the billions of euros retailers lost out on due to the lockdown in the middle of the holiday season, the Austrian government has announced that non-food retailers will be allowed to remain open on Sunday, December 19 for what is known as "Golden Sunday." Learn which stores the exception applies to and when you can do some last-minute Christmas shopping on Sunday.

December 17, 2021

Nehammer on First Trip to Brussels as Chancellor: "I'm an Ardent European"

Chancellor Nehammer made his first trip to Brussels for the European Council and the EU Eastern Partnership Summit. There he met with the other heads of state and government of the EU member states, as well as EU Commission President Ursula von der Leyen. Read what Nehammer discussed on the trip.

December 16, 2021

Who Is Kazem Gharib Abadi, Iran's Former Permanent Representative to the International Organizations in Vienna?

After serving for over three years as Iran's Permanent Representative to the International Organizations in Vienna, Kazem Gharib Abadi is now the Vice-President of Iran’s Judiciary for International Affairs and Secretary-General of Iran's High Council for Human Rights. Read more about Mr. Gharib Abadi's career path.

December 13, 2021

These Covid Rules Apply After the Lockdown for Vienna and Surroundings

The Austria-wide lockdown ended yesterday and applies to vaccinated and recovered individuals (2G). For the unvaccinated, the lockdown continues to be in effect. What new rules now apply at the federal level and in Vienna and the province of Lower Austria (Wien und Umgebung)?

December 13, 2021

Austrian Compulsory Vaccination Bill is Ready: "We Want Freedom Back!"

The Austrian government has announced that the controversial compulsory vaccination bill is finally ready. Read what Constitutional Minister Edtstadler said about the bill and regaining freedom.

December 10, 2021

Austrians Abroad Want Dual Citizenship at Last

There are growing calls among Austrians abroad for a change to Austria's strict laws regarding dual citizenship. Read about the citizens' initiative "Dual Citizenship for Austria" and the increasing support it is receiving from Austrians abroad, expats in Austria, and Austrian politicians.

December 8, 2021

Wirecard Scandal: Europol Manhunt for Europe's Most Wanted "Marsalek"

Former COO of Wirecard Jan Marsalek, one of Europe's most wanted fugitives, is still the target of an international manhunt for his suspected role in a multi-billion euro fraud scheme. Read about the ongoing search for Marsalek and Europol's 2021 "EU's Most Wanted" campaign.

December 7, 2021

Austria's Mandatory Vaccination Bill on the Table

The first draft of Austria's mandatory COVID-19 vaccination bill is now available, and it details fines for the unvaccinated beginning in March 2022. Learn how much the fines could be and who may qualify for an exemption from compulsory vaccination.

December 6, 2021