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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
Ukrainian Ambassador in Vienna: "We need humanitarian assistance"
The war in Ukraine has been going on for several weeks and the humanitarian crisis is a new challenge for Europe. The Ukrainian Ambassador to Austria, Vasyl Khymynets, met with the Governor of Lower Austria, Johanna Mikl-Leitner, and Provincial Councilor Martin Eichtinger for talks at the Palais Niederösterreich in Vienna. The discussion focused on Russia's violations of human rights and humanitarian aid to Ukraine.
March 17, 2022
How Austria Is Supporting Ukrainian Refugees: Right of Residence and Relief Supplies
In Europe, an ever-increasing migration movement from Ukraine is becoming noticeable. The government of Austria decided to take several measures to help the fleeing people of Ukraine. Learn more about Austria's assistance.
March 16, 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
OMV Subsidiary Borealis Declines Offer from Russia’s EuroChem for Fertilizer Business
The planned sale of the Linz-based fertilizer division of OMV chemicals subsidiary Borealis to Russian-Swiss group EuroChem has been canceled. According to a press release, Borealis has decided to reject EuroChem's offer.
March 14, 2022
Olaf Scholz Met Van der Bellen: "One Must Remain in Dialogue with Putin"
German Chancellor Olaf Scholz and Austrian President Van der Bellen exchanged views on bilateral and European policy issues and the Russian attack on Ukraine.
March 14, 2022
Energy Supply: Liquefied Natural Gas from Qatar, Instead of Pipeline Gas from Russia
Chancellor Nehammer visited the United Arab Emirates (UAE) and Qatar with the intention of lessening Austria's dependency on Russian natural gas for energy. Read about the chancellor's visit and how liquefied natural gas could help solve this issue.
March 11, 2022
Austrian Minister for Europe for Reassessment of EU Defense and Security Architecture
At a meeting of the EU General Affairs Council in France, the Austrian Minister for Europe, Karoline Edtstadler, called for a reassessment of the EU Defense and Security Architecture. Read what Minister Edtstadler said about this and Ukrainian accession to the EU.
March 10, 2022
Schallenberg in Brussels Condemns Playing with Nuclear Fire
At a special meeting of the EU Foreign Affairs Council, Foreign Minister Schallenberg condemned the Russian shelling of a nuclear power plant in Ukraine. Read more about this special meeting and what was discussed there.
March 10, 2022
How Russian State-Controlled Media Use Disinformation Campaigns to Influence Democratic Processes in Austria and Beyond
Russia uses its state-controlled media outlets to help push disinformation campaigns in Austria and around the world. Read how the Kremlin spreads disinformation through the media.
March 9, 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
Strategic Partnership Update Between the United States and Austria
In light of the unprovoked and premeditated war against Ukraine, during bilateral consultations at the State Department in Washington, D.C., and at the U.S. Embassy in Vienna, U.S. Deputy Secretary of State Wendy Sherman and Peter Launsky-Tieffenthal, Secretary General at the Austrian Ministry of Foreign Affairs, in the presence of U.S. Ambassador to Austria Victoria Reggie Kennedy, issued a Joint Statement on the Strategic Dialogue between the United States and Austria, setting forth a strategic partnership between the two countries and a plan to continue the dialogue.
March 8, 2022
How Many Refugees Have Fled Ukraine to Austria?
Austria will help its neighboring countries cope with the expected influx from Ukraine following the Russian military attack by accepting Ukrainian refugees despite its generally restrictive migration policy. Please find below questions and answers regarding entry and stay of Ukrainian citizens in Austria.
March 3, 2022
Ukraine Invasion: Austria Demands Compliance with Humanitarian Law and the Securing of Civilian Corridors
Austria is demanding that Russia comply with humanitarian law and create secure corridors for civilians to leave Ukraine and international organizations to send aid in. Read what Chancellor Nehammer and Foreign Minister Schallenberg said about this and watch their joint press conference.
March 3, 2022
IAEA Board of Governors Emergency Meeting Condemns Unprovoked Attacks Against Ukraine
At an emergency meeting of the IAEA Board of Governors, the Board condemned the unprovoked attacks against Ukraine and discussed the status of the nuclear safeguards in Ukraine. Read more about the Board's meeting and the current situation regarding Ukraine's nuclear power plants.
March 3, 2022
UNHCR: One Million Refugees Have Fled Ukraine in a Week
In just seven days, one million people have fled Ukraine, uprooted by this senseless war.
March 3, 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-friendly Austria Breaks with its Neutrality: "Enough is Enough"
Neutral and traditionally pro-Russia Austria is forced to break with its neutrality and take a clear stand against Putin because of his war of aggression against Ukraine.
March 2, 2022
UN General Assembly: 141 States Condemn Russian Aggression and Rights Violations against Ukraine
By a large majority, the UN General Assembly has condemned the Russian attack on Ukraine. 141 states voted in favor of a resolution to this effect and demanded Russia's withdrawal from the country. Austria was represented by its UN Ambassador.
March 2, 2022
Ukraine Invasion: Austria Also Possesses a "Willkommenskultur"
Austria is already preparing to receive Ukrainian refugees fleeing the violent Russian invasion of Ukraine. The people of Austria have a chance to once again display their "Wilkommenskultur" ("welcoming culture") and welcome those fleeing the brutal conflict into their country with open arms. Read what Vienna is currently doing to help welcome the refugees.
March 2, 2022
Austria's UN Ambassador Questions Whether the System of Veto Powers Is Still Capable of Governing Relationships
At an emergency session of the United Nations General Assembly, Austrian Ambassador to the UN, Alexander Marschik, questioned whether the veto power provided to the five permanent members of the United Nations Security Council undermines its ability to uphold international law. Read more of what the ambassador said regarding Russia's invasion of Ukraine.
March 1, 2022
Attack on Ukraine: Austria Extends Aid from Foreign Disaster Fund to a Total of 17.5 Million Euros
The Austrian government has approved another 15 million euros in humanitarian aid for Ukraine from the Foreign Disaster Fund. Read about how the money will be allocated and the daunting projections that suggest Ukraine will almost certainly need more foreign aid.
March 1, 2022
Belarusian Dictator Lukashenko May Rule Until 2035
Almost unnoticed in the background of the Russian invasion of neighboring Ukraine, Belarusian President Alexander Lukashenko has had expanded power confirmed in a referendum. The constitutional amendment is intended to allow him additional terms in office and guarantee him lifelong immunity from prosecution after a possible retirement from politics.
March 1, 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
Russo-Ukrainian War: Already 100,000 People on the Run, but Austria's Interior Ministry Expects No Large Movement of Ukrainians to Austria
Although already one day after the Russian attack on Ukraine, according to UN figures, more than 100,000 people out of the 44 million population are on the run, the "migration experts" of the Austrian Interior Ministry do not assume that there will be a large movement of Ukrainian citizens to Austria. On the other hand, most EU countries are preparing for more refugees.
February 26, 2022
Austria Before the OSCE Council: "War Is Raging on the European Continent"
Foreign Minister Schallenberg addressed the OSCE Council and made an urgent appeal for Russia to halt its war on Ukraine and return to the negotiating table. Read what Schallenberg said about the intensifying conflict in Ukraine.
February 25, 2022
Russo-Ukrainian War: Austria Sticks to its Role as Bridge Builder
As the fighting between Russia and Ukraine is intensifying, Austria remains committed to trying to build bridges and encouraging dialogue between the two sides. Read about Chancellor Nehammer's intense phone call with Ukrainian President Volodymyr Zelenskyy and his discussion about the conflict with Bavarian Minister-President Markus Söder.
February 25, 2022
Putin's People in Austria and Beyond
Following Putin's invasion of eastern Ukraine with the aim of regaining former Soviet territory, two former European prime ministers from Italy and Finland have already resigned from the supervisory boards of two Russian companies. However, some Austrian and German politicians see no reason to resign their mandates. In the following some explanations why.
February 25, 2022 · Updated: February 25, 2022; 11:23
Ukrainian President to Austria's Chancellor: "Don't know how long Ukraine will exist"
The situation in Ukraine is highly dramatic, Austria's Chancellor Nehammer reported from a telephone conversation with President Volodymyr Zelenskyy. The latter had requested to stand by his country, which was under attack by Russia.
February 25, 2022
Continued Strong Interdependence of Business between Russian, Ukrainian and Austrian Companies
Austrian businesses have established significant ties with those in Ukraine and Russia over the years. Read about the amount of business Austria does with each country and how the recent escalation of tensions could affect this.
February 23, 2022
Federal President: "Blatant violation of Ukraine's sovereignty and territorial integrity"
Austria's Federal President Van der Bellen condemns Putin's recognition of the eastern Ukrainian separatist areas of Luhansk and Donetsk and his order to invade eastern Ukraine.
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
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
Russia-Ukraine Conflict: Austria Dispatches Crisis Team
The Kremlin apparently wants to justify further aggression with provocations in eastern Ukraine. Due to the escalating situation in eastern Ukraine, Austria has sent a crisis team to Ukraine. In addition to specialists from the Cobra task force, the team also includes experts from the foreign and defense ministries.
February 20, 2022
U.S. President Is "Convinced" Putin Has Decided to Invade Ukraine
"As of this moment, I'm convinced he's made the decision. U.S. intelligence agencies had concluded that the Russian leader had made the decision to invade and would proceed accordingly," Biden said.
February 19, 2022
Russia Sustains Conflict in Donetsk and Luhansk People's Republics in Eastern Ukraine
Russian-backed separatists reportedly began shelling an area near the "contact line" in Eastern Ukraine. Read about the recent incident and why Chancellor Nehammer and EU High Representative Josep Borrell are "very worried."
February 18, 2022
Russia-Ukraine Conflict: Neutral Switzerland and Austria Back De-escalation
Swiss President Ignazio Cassis and Austrian Chancellor Karl Nehammer discussed the Ukraine crisis at a meeting in Zofingen, Switzerland. Read what they said about the ongoing conflict.
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
What Are the Minsk Agreements and Can They Help De-escalate the Russia-Ukraine Conflict
Some leaders have suggested that the Minsk Agreements could provide a path to a diplomatic solution to the current tensions between Russia and Ukraine. Read more about the Minsk Agreements and if they really do provide a viable solution to the Ukraine crisis.
February 16, 2022
Disinformation and Propaganda: How Russia Reverses Reports of International Media
The Russian Foreign Ministry has claimed that Western media is spreading disinformation to unfairly paint Russia as an aggressor towards Ukraine. Read how Russia manipulates Western media sources to create its own narrative.
February 14, 2022
Ukraine Crisis: OSCE Special Monitoring Mission Obstructed in Ukraine
The United States and European Union have expressed concern that the OSCE Special Monitoring Mission to Ukraine continues to face restrictions to its freedom of movement in Ukraine. Read about the latest impediment to the SMM's monitoring ability and what the US and EU said about it.
February 11, 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
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
Putin's Propaganda TV-Channel Tries to Expand to Austria
An attempt to supply an Austrian target group with German-language propaganda from Berlin will apparently fall victim to the media war between the two state broadcasters Russia Today (RT) in Berlin and Deutsche Welle (DW) in Moscow.
February 9, 2022
Cold War Founded Research Institute Near Vienna Continues to Address Global Challenges of the 21st Century
The year 2022 marks 50 years since Laxenburg-based research institute IIASA was founded to promote East-West scientific cooperation during the Cold War. Today, the institute continues to address the global challenges of the 21st century through its research. The 50th anniversary provides an opportunity to both take stock of the institute’s achievements and to look forward.
February 8, 2022
Austrian Foreign Minister on Ukraine: "As a neutral state, we are still not neutral when it comes to violence"
Foreign Minister Alexander Schallenberg is visiting Ukraine together with his Czech counterpart Jan Lipavský and his Slovakian counterpart Ivan Korčok.
February 7, 2022
Belarus Celebrates 30-Year Anniversary at OSCE While Number of Political Prisoners at Home Has Now Reached 1000
As the Republic of Belarus celebrates its 30th anniversary at the OSCE in Vienna, the number of political prisoners in Belarus has now reached 1000. Although Belarus claims to be a long-standing, active, and committed member, the European Commission's External Action Service notes that Belarus "must adhere to its international commitments and obligations within the OSCE". Meanwhile, it became known that a troop deployment of 30,000 Russian soldiers to Belarus has also taken place.
February 4, 2022
Opec and Non-OPEC Members Agree Further Gradual Increase in Oil Production
At the 25th OPEC and non-OPEC Ministerial Meeting (ONOMM), the oil-producing countries decided upon a gradual increase in oil production for March. Read about this and the other decisions made at the meeting.
February 2, 2022
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