Putin’s move: Gazprom takes over the management of Ariston branches
On April 26, in an unexpected decision, Russian President Vladimir Putin signed a decree for the temporary transfer of the Russian branches of the Italian Ariston and the Russian-style German Bosch Gazprom Domestic Systems, the company of the state group Gazprom, which produces household appliances. The decree, posted on the official portal for legal information, concerns Ariston Thermo Rus LLC, controlled by Ariston Holding, and BSH Household Appliances LLC, controlled by BSH Hausgerate GmbH.
Rome summons ambassador Paramonov
On April 29, the Italian government officially asked the Russian authorities for a step back after the nationalization of the Ariston Thermo Group. To Ambassador Alexey Paramonov, summoned to the Farnesina, “strong disappointment” was expressed on that occasion for a measure that affected the “legitimate economic activities of foreign companies” in Russia. The diplomat, however, maintained the point, accusing Rome of “sacrificing national interests to dangerous anti-Russian adventures”.
Moscow’s strategy
Since the beginning of the war in Ukraine, Russia has placed the assets of around twenty Western companies (including Danone and Carlsberg) under “temporary management”, justifying these initiatives as retaliation for Western sanctions. And Moscow, at this stage, is also looking carefully at frozen assets in Europe, in case it decides to use them to financially support Kiev. At the same time, since the spring of 2022, Vladimir Putin has also pushed for the nationalization of Russian private industries, in the name of “national security”: from textiles to rare earths, from optical-mechanics to electronics, in the sign of an almost complete conversion to a war economy.
Urso: take action with Brussels for compensatory measures in favor of businesses
«We have asked the European institution, the Commission, to work together on a provision, therefore European, which allows companies to be able to recover, in Europe, on the assets of those who have been beneficiaries of an administration or expropriation measure – explained the Minister of Business and Made in Italy, Adolfo Urso, to SkyTg24 -. I believe that this is an achievable objective and that, if on the one hand it will obviously support Ariston’s revenge against the person who is in fact the beneficiary of Putin’s measure, and at the same time, it can discourage Russia from persevering on this street. A compensatory measure – continued Urso – to protect the companies that are affected by these measures, but also to discourage persevering on this path, I think it is the most effective measure”.
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