“After South Stream is put into operation, the amount of gas supply to Austria will grow by 2 billion cubic meters per year,” Putin said.

Russia has already reached similar agreements with Bulgaria, Hungary, Greece, Serbia, Slovenia, Croatia and Italy.

The 20 billion-euro project is intended to diversify natural gas supplies from Russia to Europe, and should be completed by 2015.

After business was completed, Russia's black-belt Premier went to the European Judo Championships, which are being held in the Austrian capital.

Putin wished the athletes good luck, telling them his favorite martial art is a battle of both style and philosophy.