Austria is ready to support all anti-Russia sanctions except the gas embargo. Magnus Brunner, the country's finance minister, told CNN.
"If the sanctions affect you more than the people they're targeting, I think there's no benefit in that," he said.
He also said the Austrian industry is so dependent on Russian gas that the country "has no choice".
The EU leaders promised to reduce consumption of Russian gas by 66 percent by the end of this year and to break the EU's dependence on Russian energy resources by 2027.
Russian oil is already banned by the US and the UK.