Austrian Economic Legal Issues and Insolvencies

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

State of Emergency in Vienna: Numerous Demonstrations against Anti-Corona Measures

Vienna was once again subject to demonstrations against measures taken by the Austrian government to combat the spread of the coronavirus. Read about the massive demonstrations and clashes with police in Austria's capital.

December 6, 2021

City of Vienna Partner Lab Massively Expands Covid-19 Laboratory

The Lifebrain laboratory, which partners with the City of Vienna, is undergoing a massive expansion on its COVID-19 laboratory. This expansion comes just weeks after an unfair competition lawsuit brought against Lifebrain by the Vienna Medical Association was dismissed. Read about Lifebrain's lab expansion and legal issues.

December 1, 2021

Covid Lockdown Controls: Already 386,000 Inspections and 3,700 Charges

Since the beginning of the intensive COVID-19 lockdown controls, the Austrian police have conducted 386,000 and filed 3,700 charges. Read about the strict enforcement of the latest Covid lockdown.

November 29, 2021

Explained: Compulsory Covid Vaccination for All in Austria as of February 2022

The Austrian government has announced that vaccination against COVID-19 will be mandatory as early as February 2022. Learn more about the new law and what it means for people in Austria.

November 25, 2021

Air Travel to Austria: How Does Entry Work During the Fourth Lockdown?

The current lockdown in Austria due to COVID-19 has yet again complicated entry regulations for travelers. Inform yourself of the latest entry requirements for air travelers arriving in Austria and testing options at Vienna International Airport.

November 25, 2021

Covid in Austria: Lockdown From Monday, Immediate Tightening of Measures in Vienna

Chancellor Schallenberg and Health Minister Mückstein have announced a nationwide lockdown for Austria beginning Monday. As of February 1, 2022, vaccination will be mandatory in Austria. Additionally, Vienna has announced a tightening of COVID-19 measures effective immediately. Read about the upcoming lockdown and the new measures in Vienna.

November 19, 2021

Covid in Vienna: Booster Shots for All after Four Months and Vaccination for Children Five Years and Older

The City of Vienna has decided to offer booster vaccinations for COVID-19 to everyone four months after their second dose. The Austrian capital has also begun vaccinating children 5 to 11 years old. Read about these two new vaccination offers.

November 17, 2021

Migration: Expansion of Value and Orientation Courses for Asylum Seekers Planned

Integration Minister Susanne Raab announced that the mandatory values and orientation courses for asylum seekers will be expanded to include three days of lessons rather than just one. Read more about the expansion of the program and what will be taught.

November 12, 2021

COVID-19 in Austria: Verification of Compliance with Applicable Access Rules Becomes Easier

A new app known as Green Check is now widely available in Austria and has made verification of compliance with COVID-19 access rules much simpler. Read more about the new app and how it works.

November 12, 2021

COVID-19 in Austria: From 3G to 2G Nationwide

After a meeting with the governors of the federal states of Austria, Chancellor Schallenberg announced a nationwide shift from 3G COVID-19 requirements to 2G. Read more about the new rule and what the chancellor said about it.

November 8, 2021

Money Laundering, Tax Offenses and Terrorist Financing on the Rise

The Austrian Ministry of the Interior reported an increase in money laundering, tax offenses, and terrorist financing in 2020. Read more details about this disturbing trend and its causes.

November 4, 2021

COVID-19 in Austria: Concerns About Transition to 2.5G Rule in Workplace

Due to increased COVID-19 cases and hospitalizations, Austria is considering transitioning from the 3G rule in the workplace to a 2.5G rule in the coming weeks. Some government officials are expressing concerns about the implementation of this change. Read about the potential requirement change and the concerns that some have about it.

November 3, 2021

Rating Agency Fitch Affirms Stable Outlook for Austria at AA+

Austria's AA+ rating is supported by a rich, diversified, open and high-value-added economy with strong political and social institutions, according to Fitch, the NYC based rating agency.

October 26, 2021

Smart Borders: Austrian Green Light for Implementation of EU-wide Entry/Exit System

Austria has passed a law to help implement the EU-wide entry/exit system (EES) as stipulated in the EU's "Smart Borders Package." Read more about the new law and what it means for border controls and law enforcement cooperation in the EU.

October 25, 2021

EU Justice Commissioner Reynders and Justice Minister Zadić Share Concerns Over Rule of Law in Poland

The EU Justice Commissioner, Didier Reynders, was hosted by Austrian Minister of Justice Alma Zadić for a working meeting in Vienna. The two discussed various issues, including their shared concern regarding the rule of law following the Polish Constitutional Court's ruling on the primacy of national law over EU law. Read about their meeting and the increased tensions surrounding the Polish court's decision.

October 12, 2021

Ibiza Affair Committee Concludes in National Council: How Corrupt are Austrian Politicians?

How corruptible is Austrian politics? This question was explored by the deputies in the National Council session when discussing the recently published final report of the Ibiza-Affair Investigation Committee. Although the report was unanimously acknowledged, the parties were far apart in their conclusions.

September 23, 2021

Jewish Museum Vienna: Restitution to Ephrussi Family after Decades

The Jewish Museum Vienna has restituted the Franz Adam painting “Camp Scene from 1848 in Italy” to the Ephrussi family. Following the authorization by Defense Minister Klaudia Tanner, ownership of the painting was returned to the heirs of Viktor Ephrussi. The painting was in the Museum of Military History in Vienna after being confiscated from Viktor Ephrussi by the Nazis. Read more about the painting's history and its restitution to the Ephrussi family.

September 14, 2021

Women on the Boards of Austrian Listed Companies: Only 14 out of 192

A study shows that women are still significantly underrepresented on the boards of Austrian companies on the Vienna Stock Exchange. The number of female board members in Austria's listed companies has decreased by one woman compared to the beginning of 2021, leaving the total at 14 out of 192. Read more about the details of the study.

September 6, 2021