EU criticises Russia over control of German, Italian firms' units (updated)

Ariston Holding

27/04/2024 17:25

(Releads with European Union statement)
       April 27 (Reuters) - The European Union criticised
Russia on Saturday for putting subsidiaries of one Italian and
one German company under the "temporary external management" of
a Gazprom entity, saying the move underscored Moscow's disregard
for international norms.
    Russian President Vladimir Putin placed the Russian
subsidiaries of Italian water heating company Ariston and German
appliance maker BSH Hausgeraete under JSC Gazprom Household
Systems, according to a decree published on Friday.
    "These measures, targeting legitimate economic activities,
are yet another proof of Russia’s disregard for international
law and rules," a spokesperson for the EU's diplomatic service
said in a statement.
    It said the moves confirmed that Russia, which is waging war
on Ukraine, was "an unpredictable actor also in the economic
field, and has created a business climate which is arbitrary and
hostile towards foreign investors".
    "The European Union calls on Russia to reverse these
measures and seek acceptable solutions with European companies
targeted by them," the statement said.
    Ariston said on Saturday it was "extremely surprised" by the
move and was assessing the implications of the decree from a
governance and managerial standpoint.
    

 (Reporting by Andrew Gray in Brussels and Rishabh Jaiswal in
Bengaluru; Editing by Hugh Lawson and Timothy Heirtage)
 ((rishabh.jaiswal@thomsonreuters.com;))