During his visit to Moscow, Austrian President Heinz Fischer described the mutual sanctions as "regrettable", but the end of the sanctions is possible only with the consent of the EU. Therefore, Vienna will play an active role in mediation between the West and Russia, as Vienna is set to lead the Organization for Security and Cooperation in Europe (OSCE) in 2017, taking over from Berlin.
Neither Russia nor EU industry benefits from the current state. Despite the sanctions, both sides are looking to the future. Basically, medium-sized companies are not going to back down, despite the shortcomings of the current EU sanctions. LLC PAT-Service continues to maintain its position as a leading supplier of components and spare parts for industrial equipment from the best foreign manufacturers from Germany, Italy, Finland, Great Britain, Czech Republic, including providing the opportunity buy food hose and other types of industrial hoses for various industries.
At the same time, German engineering companies fight against EU sanctions, since for them the preservation of the Russian market is of great importance. The German engineering industry will not retreat, despite the sanctions, harmful from their point of view, for all participants. Nevertheless, the situation is rather critical: the weak ruble is driving Russian companies into the hands of Chinese machine builders, who can snatch the German market. It is highly doubtful that EU policymakers fail to consider the long-term implications for European industry.
In 2015, German exports to Russia fell sharply compared to the already weak 2014. Similarly, German exports fell to neighboring countries with Russia, including Kazakhstan and Belarus. And the Italian government initially blocked the decision to extend the EU's economic sanctions against Russia.
At the same time, Austrian Federal President Heinz Fischer, during a visit to Moscow last week, characterized the mutual sanctions of the West and Russia as disastrous for both sides. “Anyone who wants to improve relations cannot be happy about these measures,” he said at a meeting with Vladimir Putin on Wednesday in Moscow. But the termination of sanctions can be carried out only by agreement with the EU and the implementation of agreements in Minsk to achieve a peace process in Ukraine, Fischer said.
