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No Exodus of Austrian Companies From Russia Despite Sanctions

© Sputnik / Vladimir Astapkovich / Go to the photo bankThe Moscow City International Business Center
The Moscow City International Business Center - Sputnik International
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Business ties between Russia and Austria remain strong and Russian companies are not leaving the Russian market despite the decline in trade turnover amid anti-Moscow sanctions, Russian Ambassador to Austria Dmitry Lubinsky told Sputnik on Friday.

MOSCOW (Sputnik) — The ambassador added that the calls of the Austrian Foreign Minister to gradually lift anti-Russian sanctions amid the country’s steps toward fulfilling the Minsk agreements on Ukrainian reconciliation reflect the general mood of the Austrian business circles and society.

"Amid sanctions and our [Russia’s] relations with the European Union, including Austria, during the past two years we could feel the sharp fall in mutual turnover, more than 50 percent across the European Union… But what is positive even given the turnover decline is the fact that over 600 Austrian companies are operating on the Russian market and I am not aware of any examples of any of those companies stopping its operations or leaving Russia. It is an important sign of stability of our trade relations. Moreover, mutual investments are increasing," the ambassador said.

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Since 2014, relations between Russia and the European Union deteriorated amid the crisis in Ukraine. Brussels, Washington and their allies have introduced several rounds of anti-Russia sanctions since the reunification of Crimea with Russia in 2014, accusing Moscow of meddling in the Ukrainian conflict.

Russia has repeatedly refuted the allegations, warning that the Western sanctions are counterproductive and undermine global stability. In response to the restrictive measures, Russia has imposed a food embargo on some products originating in countries that have targeted it with sanctions.

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