Austria Seeks to End Russian Gas Contract

Austria aims to terminate its long-term contract with Russian gas supplier Gazprom, seeking to reduce dependence on Russian gas. The move follows Russia's invasion of Ukraine in 2022, prompting Austria to seek alternative providers. OMV, Austria's state-owned oil company, intends to continue buying Russian gas under a contract until 2040. The energy ministry plans to make it compulsory for companies selling gas in Austria to reduce the proportion of Russian gas in their mix.