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EU companies still had between €70bn and €100bn of assets in Russia, which could be leveraged to unfreeze more funds (Photo: Valentina Pop)

Austria's bid to unfreeze Russian money causes EU alarm

An Austrian bank, Slovakian cars, and Hungary's gas still stand in the way of new EU sanctions on Russia, as ambassadors meet in Brussels on Wednesday (8 October) to try to break veto threats.

In the Raiffeisen International Bank (RIB) difficulty, Austria is seeking to insert a "derogation" into the existing sanctions that would allow "the competent authoritie...

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EU companies still had between €70bn and €100bn of assets in Russia, which could be leveraged to unfreeze more funds (Photo: Valentina Pop)

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

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