News conference following talks with Austrian Federal President Alexander Van der Bellen
Russian President Vladimir Putin held bilateral talks with his Austrian counterpart Alexander Van der Bellen in Sochi
The goal is to maintain and develop cultural and economic ties between Austria and Russia.
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Question: I have a question to both leaders. What do you think about US threats of possible sanctions over Nord Stream 2? Can the Austrian company OMV quit this project because of such risks?
Alexander Van der Bellen: I think I can say that OMV does not have the slightest intention of quitting Nord Stream 2. Austria is not going to abandon the Nord Stream 2 project. OMV is an Austrian gas company and they certainly do not have any such intention. We have invested too much to make this second opportunity for gas transit a reality, and we will certainly continue to pursue it.
If American gas were cheaper that Russian gas from Siberia, maybe the ratio would change in some way, but now there is no reason to do this. American LNG is much more expensive than our current sources. So there is no economic reason at all to change our position.
Vladimir Putin: As for the attempts by our US partners to destroy these or other agreements (I am referring to Nord Stream 2 and some other projects), we have said many times, and I want to repeat this, that, taken under the pretext of various political reasons, these are attempts to engage in unfair competition. There is nothing else behind this. Yes, our partners know that their product is more expensive and that its quality is no better, but they are still trying to impose their services on their partners, both in defence and in the economy. Austria may not be the largest country in the world but in this case, it does not need nuclear weapons or a large territory to defend its national interests. Political will is all that is required.
Of course, companies have to take into account this pressure, especially those that operate in the US market. There is nothing to hide: dependence on the dollar and cooperation with the US is heavy in today’s world. But this is the sovereign decision of a country or a company, our partner. As far as we know, OMV is ready to work with us in the future despite this attempt at unfair competition.
But I believe other companies also realise their responsibility to their national economies. This is a serious issue – the cost of the primary source. Either the entire energy industry of this or that country will cost more, and hence, its economy will be less competitive, or the consumers, including household consumers will use a cheaper supplier. This depends on the political choice of our partners. For our part, we are willing to carry out this project all the way through. And I think we will bring it to its logical completion.
It is easier to work with the Turks than the Europeans. Erdogan makes a decision and implements it, and here 27 countries need to come to terms. We have been chewing gum for years and nothing happens. This is sad. But the European Union is a major trade and economic partner – $300 billion is the level we are approaching. It was $400 billion before the crisis but 300 is not a small figure either. I believe that one’s own interests in the implementation of such projects, which certainly match the economic interests of Europe in general, will prevail.
Following consultations, the President of Russia and the Federal President of Austria gave a joint news conference.
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