McDonalds, H&M, Volkswagen: Well-known international companies withdrew from Russia in response to the Russian invasion of Ukraine on February 24, 2022.
Most Austrian companies, on the other hand, have stayed in the country.
For example, the Russian subsidiary of Raiffeisenbank International (RBI), which has around 2.3 million customers in Russia.
In 2022, RBI made a profit of 2.6 billion euros - around 60 percent of which came from business in Russia.
Unlike its US competitors such as Coca-Cola and Pepsi, the Austrian beverage manufacturer Red Bull has also stayed in the country.
Or the baked goods producer Backaldrin.
Austrian companies have been doing a lot of business in Russia for decades.
A study by the University of St. Gallen now shows that while around 8.5 percent of companies withdrew from the Russian market in an EU-wide comparison, the figure for Austrian companies was just 4 percent.
Why is it that the Austro corporations are having such a hard time withdrawing?
In this episode of »Inside Austria«, we look at Austrian companies that continue to do business in Russia.
We ask why corporations like Red Bull aren't withdrawing from the Russian market and whether they're supporting Putin's war against Ukraine.
And we explain what that has to do with the historical connection between Austria and Russia.
In the weekly podcast “Inside Austria”, SPIEGEL and STANDARD look together at the big and small scandals in Austria.
Together with journalists from both editorial offices, we reconstruct cases and events that move the country.
We look into political abysses, follow the investigations into the cause of Sebastian Kurz and his ÖVP.
And inform about an important Austrian topic of the week.
