Russia nationalized the subsidiaries of an Italian company and a German company and placed them under the management of Gazprom. The European Union condemned Vladimir Putin’s decree at the weekend, declaring that this move underlines Moscow’s non-compliance with international norms, reports Reuters.
Russian President Vladimir Putin placed the Russian subsidiaries of the Italian water heating equipment company Ariston and the German household appliance manufacturer BSH Hausgeraete under the management of JSC Gazprom Household Systems, according to a decree published on Friday.
These measures, aimed at legitimate economic activities, are yet another proof of Russia’s non-compliance with international law and rules,” said a spokesperson of the EU diplomatic service, in a statement.
He said the measures confirmed that Russia, which is waging war against Ukraine, has been “an unpredictable actor in the economic field as well and has created a business climate that is arbitrary and hostile to foreign investors.”
“The European Union requests Russia to reverse these measures and to seek acceptable solutions with the European companies targeted by them,” the statement reads.
On Saturday, Italy summoned the Russian ambassador.
“The government requests clarifications on the question of the nationalization of Ariston Thermo Group,” Foreign Minister Antonio Tajani said on X, quoted by Euractiv.
He said he had asked Italy’s top foreign ministry official to summon the Russian ambassador, adding that Rome was working “also with Brussels, in collaboration with Germany,” after Bosch was also targeted.
Tajani previously said he had spoken with Ariston’s top managers and that Rome “stands by the business, ready to protect them in all international markets”.
An EU spokesman condemned the measure as “further evidence of Russia’s contempt for international law and rules” and called on Moscow to revoke it.
The measure was taken by a decree published on Friday – although dated Thursday – and signed by President Vladimir Putin.
The decree transfers control over 100% of the shares of the companies – Ariston Thermo Rus, owned by Ariston Holding NV, and BSH Household Appliances, owned by BSH Hausgerate GmbH – to Gazprom Household Systems, a subsidiary of Gazprom.
Tags: Russia nationalized Ariston Italy Hausgerate Germany subsidiaries Putins decree condemns Moscow
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