Sanctions Against Russia to Negatively Affect Austrian Businesses – Reports

Author: us-russia
Comments: 0
Sanctions Against Russia to Negatively Affect Austrian Businesses – Reports
Published 30-07-2014, 04:23
MOSCOW, July 30 (RIA Novosti) - Sanctions against Russia will negatively affect Austrian businesses, Christoph Leitl, head of the Austrian Chamber of Commerce stated Wednesday, as reported by The Local website.

"As (sanctions) are now, we expect exports to fall around 20 percent this year versus last year and in tourism the collapse in Russian guests is already very strikingly tangible,” he stated, quoted by The Local website.

Leitl is one of the opponents of strengtheningsanctions against Russia. "I am still against sanctions, but if the politicians decide otherwise then of course one is bound to this,” he noted, quoted by The Local website.

Analysts suggest that the sanctions will hit Austrian banks the hardest, especially Raiffeisen.

On Tuesday the European Union agreed a new set of economic sanctions against Russia over the Ukrainian crisis, which will limit access to EU capital markets for Russian state-owned financial institutions, impose an embargo on trade in arms, establish an export ban for dual use goods for military end users, and curtail Russian access to sensitive technologies particularly in the field of the oil sector.

Russia has repeatedly called the "language of sanctions” counterproductive and said these measures would have a boomerang effect.

 

RIA Novosti

Comments: 0
Experts' Panel
Save the Planet Expert`s Pannel
Presently a growing number of people, including well known and...
Save the Planet Expert`s Pannel
Top
popular in the journal
RUSSIAN FEDERATION SITREP 10...

RUSSIAN FEDERATION SITREP 10...

RUSSIA AND COVID. Latest numbers: total cases 1046K; total deaths 18,263; tests per 1 million 270K. Russia has done 39.5 million tests (fourth after China, USA ...
Navalny and a Palace Coup Against...

Navalny and a Palace Coup Against...

Contrary to the belief that Putin is an unstoppable tyrant, something may be up. Is it a palace coup in the making? Or is it an improbable string of blunders?
Project Schnauzer: Merkel\

Project Schnauzer: Merkel\'s Plot...

Beneath the scandalous stories of Alexei Navalny's poisoning in Siberia by Putin, a sinister plot is unfolding. The venue: Germany. Chancellor Angela Merkel seems at the ...
Round Table September 24: 19.00 -...

Round Table September 24: 19.00 -...

Два пути

Два пути

Политолог Эдуард Лозанский — о выборе между мировой гегемонией и взаимовыгодным сотрудничеством