Anti-Russia Sanctions Very Unprofitable for Austria - Austrian Chancellor

The Austrian chancellor said that anti-Russia sanctions were very economically disadvantageous for the Austrian economy.

ST PETERSBURG (Sputnik) – The anti-Russia sanctions are very economically disadvantageous for the Austrian economy, costing the country almost 0.3 percent of its GDP, Chancellor of Austria Christian Kern told Sputnik on Friday.

"These sanctions are very unprofitable for our economy, they cost us almost 0.3 [percent] of our GDP, this is a significant mark. Austria suffers from this. In this relation, we believe that we need increased interaction in this respect to create a perspective for the future which would be based on cooperation," Kern said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

SPIEF, a major global platform for communication between business representatives and discussion of crucial economic issues, kicked off in Russia’s St. Petersburg on Thursday and will continue through Saturday. Sputnik News Agency is the official media partner of the forum.