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Austria to back EU's new Russia sanctions, clearing hurdle
Published by Global Banking & Finance Review®
Posted on October 18, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 18, 2025
2 min readLast updated: January 21, 2026
Austria will back the EU's 19th sanctions package against Russia, clearing a key hurdle for its passage. The package includes energy and financial measures.
FRANKFURT/BRUSSELS (Reuters) -Austria said on Saturday that it would agree to the European Union's latest sanctions package against Russia, in an about-face of its earlier stance and removing a key hurdle ahead of a vote early next week.
EU foreign ministers are due to convene on Monday in Luxembourg when they hope to finalise the bloc's 19th sanctions package against Moscow for its invasion of Ukraine.
Reuters reported earlier this month the passage of the package was deadlocked because Austria was demanding that the EU unfreeze some Russian assets to compensate Austria's Raiffeisen Bank International for penalties imposed by Russia.
But other EU governments would not go along. The package needs unanimous support from the EU's 27 member states.
"Austria supports continued pressure on Russia and will approve the 19th package of sanctions on Monday," the country's foreign ministry said in a statement.
The sanctions package includes an array of energy and financial measures, including a ban on Russian liquefied natural gas from January 1, 2027, bringing forward the date from January 1, 2028.
Slovakia has also voiced reservations about it, but four EU diplomats said the European Commission was expected to issue a letter on Monday that should address Slovakia's concerns.
Neither Slovakia's foreign ministry nor the Commission immediately responded to a request for comment.
(Reporting by Tom Sims and Julia Payne; Additional reporting by Michael Kahn in Prague; Editing by Emelia Sithole-Matarise)
Sanctions are penalties imposed by countries or international organizations to influence or change the behavior of a nation or entity, often in response to violations of international law.
The European Commission is the executive branch of the European Union responsible for proposing legislation, implementing decisions, and upholding EU treaties.
Raiffeisen Bank is a banking institution that operates in several countries, primarily in Central and Eastern Europe, providing various financial services to individuals and businesses.
Energy measures in sanctions refer to restrictions placed on the import or export of energy resources, such as oil and gas, aimed at influencing a country's economic activities.
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