Austria changes its mind on new EU sanctions package against Russia
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Economics
Publication date

Austria changes its mind on new EU sanctions package against Russia

Austria
Source:  Reuters

On October 18, Austria said it would agree to the adoption of a new package of sanctions against Russia, removing one of the key obstacles before a vote early next week.

Points of attention

  • Austria has agreed to the adoption of a new package of EU sanctions against Russia, clearing the way for a crucial vote.
  • The decision by Austria removes a significant obstacle, as unanimous support from all 27 EU member states is required for the sanctions package.
  • The adoption of the package faced challenges due to Austria's demands for sanctions on some Russian assets to be lifted, but other EU governments disagreed.

Austria will support the new EU sanctions package against Russia

EU foreign ministers are due to meet in Luxembourg on October 20, where they hope to finalise the 19th package of sanctions against Russia.

It was reported that the adoption of the package reached an impasse because Austria demanded that the EU lift sanctions on some Russian assets in order to compensate Austria's Raiffeisen Bank International for fines imposed by Russia.

But other EU governments disagreed. The sanctions package requires unanimous support from the 27 EU member states.

Austria supports continued pressure on Russia and will approve the 19th package of sanctions on Monday, the agency cites a statement from the Austrian Foreign Ministry.

Slovakia has also expressed reservations about the matter, but four EU diplomats said the European Commission was expected to publish a letter on Monday addressing Slovakia's concerns.

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