Apparent “illusion” – Schallenberg: “Russia will not disappear”

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Russia will continue to play a role for Europe in the future, said Foreign Minister Alexander Schallenberg (ÖVP). Complete decoupling in all areas is an illusion. So far, only about nine percent of Western companies have pulled out of the country.

Schallenberg said this in an interview with Reuters news agency. “Only nine percent of Western companies have withdrawn from Russia, 91 percent are still there and do what makes sense in the situation: wait and see.” It is not convenient to choose one company out of hundreds of thousands. He referred to Raiffeisen Bank International (RBI), which is currently under pressure to withdraw from Russia.

Austria’s second-largest financial institution has been exploring all strategic options for its Russian operations, including an exit, for more than a year. RBI has also been targeted by US sanctions authority OFAC, which has asked the bank to answer extensive questions about its activities in Russia. According to Schallenberg, this is “completely legitimate”, but it is important that all Austrian companies comply with EU sanctions.

Cancellation is not part of the policy
A withdrawal from Russia is not part of the sanctions policy. “Demands are being made that go far beyond what is part of the US or European sanctions,” said Schallenberg. Both Bank of America and UniCredit still have a presence in the country.

According to the Minister of Foreign Affairs, a complete decoupling in all areas is an illusion anyway. “Russia will not disappear from the globe and will remain our closest neighbour. Dostoyevsky and Tchaikovsky remain part of European culture, whether we like it or not,” he said.

Source: Krone

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