Austrian FM: Russia has not disappeared from map

The Austrian authorities keep an informal channel of communication with Russia and are in favour of continuing dialogue with it, Austrian Foreign Minister Alexander Schallenberg said.

He stressed that "Russia has not disappeared from the map" and is the largest geographical neighbour of the European Union (EU) and the largest nuclear power on the planet.

"The West must continue to negotiate with Russia, and the US administration is doing the same. We have a global responsibility... Moscow sits at the negotiating table in many international organisations and is, for example, an important player in the implementation of global climate and environmental goals," the minister explained in an interview with Welt.

He also expressed the opinion that Moscow is not yet ready to start negotiations with Kyiv.

"I think now is not the right time. Moscow is clearly not ready for negotiations right now," he said, noting that the EU needs to continue providing military, humanitarian and economic support to Ukraine.

Austria's foreign minister said in March that Russia will always remain important for Europe, and most European companies still work in Russia. He also spoke in defence of the Austrian bank Raiffeisen, which continues to operate in Russia.

That same month, the European Central Bank (ECB) demanded Raiffeisen to close its business in Russia. The bank promised to cut business activity in the country.

In early May, Raiffeisen Bank International closed the correspondent accounts of all Russian banks, except for its subsidiary.