VIENNA, May 18. /TASS/. Austria’s Vice Chancellor Heinz Christian Strache has resigned on Saturday after German media published a scandalous video showing his involvement in shadow financial deals.

At a press conference in Vienna, he announced his resignation from the posts of Vice Chancellor and Chairman of the ruling Freedom Party.

"On Sunday, at the party presidium, I will organize the transfer of powers of the Chairman of my party and resign from the post of the party’s leader [Austrian Freedom Party]," Strache said.

"From now on, my deputy Norbert Hofer [Austria’s Minister of Transport] will take over the party’s affairs," he added,

On Friday, Spiegel and Suddeutsche Zeitung published a video showing Strache meeting a rich Russian woman in 2017 and apparently offering to funnel state contracts towards a company in exchange for funding his party’s election campaign ahead of the parliamentary elections.