Tough times are ahead as the country’s energy crisis deepens, the Finance Ministry warns
Austria is facing what may be its worst economic crisis since World War II, the finance minister said on Wednesday during his speech to parliament, presenting a draft budget.
Magnus Brunner pointed to EU sanctions against Russia as the primary cause of the downturn, and said predicting an end to the crisis is impossible, as the current situation could recur in the coming years.
Brunner noted that Austrian businesses and households are feeling the impact of anti-Russia sanctions. He stressed that calls for lifting the restrictions on Russia are “emotionally understandable,” but there are no guarantees of a return to previous cooperation with Moscow.
Austria, which is heavily dependent on Russian oil and gas, has been resisting the EU’s plans to restrict imports from Moscow. In March, Brussels rolled out a plan to reduce dependence on Russian natural gas by…
