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Stock impact report

Austrian Oil Firm OMV Sacks Alleged Russian Spy [Barron's]

OMV AG BEARER SHS S/ADR (OMVKY) 
Company Research Source: Barrons
In recent years, the EU member has been rocked by several cases of alleged Russian espionage. Advertisement - Scroll to Continue "It's correct that we have terminated the employment contract with the employee concerned," OMV CEO Alfred Stern told journalists on Monday. Last week, Austrian magazine Profil said an OMV employee from Eastern Europe had meetings with a Russian diplomat on a regular basis. It said the judiciary has requested the government "to lift the diplomat's immunity". In its annual report in 2024, Austria's domestic intelligence service said Russia's embassy in Vienna is one of Moscow's largest missions in Europe and a "strategically important hub" for espionage. Advertisement - Scroll to Continue In 2018, OMV extended a long-term natural gas supply contract with Russian firm Gazprom, which was due to run until 2040. But following Russia's full-scale invasion of Ukraine in 2022, Austria gradually distanced itself from Moscow and terminated the contrac Show less Read more
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