The Italian government is preparing to defend its companies with particular attention to the Ariston Group, which suddenly ended up in Vladimir Putin’s sights. The Russian president has in fact decided to temporarily transfer the Russian branch of the Italian company, together with the German branch of Bosch, to Gazprom Domestic Systems, a company controlled by the state energy giant Gazprom and manufacturer of household appliances. A unilateral and sudden decision that sparked the immediate reaction of the Italian Foreign Minister, Antonio Tajani, who summoned the Russian ambassador to Italy to ask for explanations on the nationalization of Ariston Thermo Rus Llc which produces electric water heaters and employs over 200 people as well as a commercial network involving another 100 people. Tajani assured that Italy will work in close collaboration with Brussels and Germany to address the situation.
The European Union’s External Action Service also condemned the Russian action, accusing the Kremlin of violating international law. The European Union urged Russia to lift the measures and find acceptable solutions with European companies. This move by Putin follows a series of actions against Western companies, placed under “temporary management” in response to sanctions imposed on the Russian economy after the invasion of Ukraine.
Ariston Group declared itself surprised by Putin’s initiative, as the transfer took place without any warning, despite almost 20 years of positive relations with Russian institutions. The group announced that it is evaluating the implications of the decision, including governance and corporate management implications.
The Minister for Business and Made in Italy, Adolfo Urso, assured that the government will do everything possible to defend the important Italian company, which has its operations center in the Marche region, in Fabriano. Urso spoke with the president of Ariston, Paolo Merloni, and with the governor of the Marche, Francesco Acquaroli, announcing a meeting for the beginning of the week to discuss the situation.
The mayor of Fabriano, Daniela Ghergo, expressed concern about the Russian decision, demonstrating solidarity with the Ariston Group, a historic company in the area. The mayor hopes for rapid intervention from the Italian government to resolve the situation and protect a symbol of Italian entrepreneurship.
