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Austria and Russia Business and Diplomatic Relations

European Commission: Gazprom Might Have Abused Dominance in EU and CEE

Gazprom might have charged unfair gas prices and abused dominance, the European Commission (EC) has said after completing a probe into possible abuse of monopoly power by the Russian gas giant in certain Central and Eastern European countries.

April 22, 2015

Warimpex Reckons with EUR 35 Million Loss due to Russian Crisis

Warimpex, hotel operator and property development company listed in Vienna and Warsaw was hit hard by the Russian crisis in 2014. The group estimates that it closed the financial year with a loss of EUR 35.3 million (USD 37.36 million). In 2013 the company made a EUR 7.1million profit.

April 15, 2015

Austria Imported 41 Percent of its Goods from Germany

Austria imported nearly 41 percent of its goods from Germany last year. This ranks Germany highest among all 28 EU member states as Austria’s trade partner, it follows from a Eurostat data. Italy was the second-most important import partner, accounting for 6 percent of goods imported to Austria. Switzerland was ranked third.

March 31, 2015

People in the News: UNODC Executive Director Yury Fedotov

Yuri Viktorovich Fedotov (born 1947) is a high level diplomat of the Russian Federation. Since 2010 he has served as the Executive Director of the United Nations Office on Drugs and Crime (UNODC) in Vienna with the rank of Under-Secretary-General, after having previously served as the Ambassador of Russia to the United Kingdom.

March 27, 2015

RBI Partly to Exit Operations from Russian Market, Slovenian Market Soon

Listed bank RBI will scale down significantly its high-risk or less profitable Russian operations, the company said in the presentation of the annual report.

March 25, 2015

RBI CEO Sevalda Confirms Talks with EBRD on Ukrainian Unit

Listed bank RBI is negotiating with the EBRD on investment in RBI's Ukrainian unit Aval, RBI CEO Karl Sevalda said Wednesday at the annual press conference in Vienna confirming earlier reports.

March 25, 2015

RBI Raiffeisen Bank International May Post Loss in 2015

Listed bank RBI may close 2015 in the red due to the current group restructuring measure and maintain a higher level of provisions, the bank said. 2014 consolidated loss came to EUR 493 million (USD 540.9 million), RBI also said confirming preliminary figures.

March 25, 2015

RBI Set to Sell Russian Pension Fund

Listed bank RBI is set to exit Russian pension fund market and is in talks to sell its local fund, Russian media report. The bank offered no commentary to the rumours.

March 23, 2015

EVN's Sale of Water Treatment Facilities in Moscow Finalized

The sale of the portable water treatment facility of the Lower-Austrian utility company EVN to the city of Moscow has been finalized. With a 72-hour trial run the sales process has been completed EVN declared on Friday.

March 20, 2015

RBI in Talks with EBRD on Cooperation in Ukraine

Listed bank RBI is in talks with the EBRD as it attempts to secure EBRD help with business in Ukraine, RBI CEO Karl Sevalda told the daily Handelsblatt.

March 18, 2015