Italy seeks compensation for EU firms hit by Russian sanctions

Ariston Holding

02/05/2024 15:24

ROME, May 2 (Reuters) - The Italian government is
working with the European Union to ensure that the bloc's firms
hit by Russian sanctions are compensated for the damage they
have suffered, it said on Thursday.
    Russia has placed the assets of a handful of Western
companies under "temporary management" since the start of the 
war in Ukraine, justifying such moves as retaliation for actions
by other countries against Russian businesses.
    Last week, President Vladimir Putin placed the Russian
subsidiaries of Italy's water heating company Ariston and
Germany appliance maker BSH Hausgeraete under temporary
management of JSC Gazprom Household Systems.
    The EU has criticised Russia, saying its actions against the
Italian and German companies underscored Moscow's disregard for
international law.
    Italy's Foreign Minister Antonio Tajani has summoned the
Russian ambassador to Rome and said he had discussed the case 
with EU partners.
    "We have also been active on the EU front, because the whole
issue of sanctions can only be addressed in the European
context," Tajani said on Thursday during an online meeting with
business associations and Italian companies active in Russia.
    "We are working to find a solution to compensate the damage
suffered by companies that are affected by Russian sanctions."
    A government official said the idea being studied at EU
level is to allow companies whose assets have been seized by
Moscow to have recourse to already frozen European assets
belonging to JSC Gazprom Household Systems or other companies
used by Putin to take control of Russian units of EU groups.
    
    

 (Reporting by Giuseppe Fonte and Giselda Vagnoni; Editing by
Emelia Sithole-Matarise)
 ((giselda.vagnoni@thomsonreuters.com; +39 06 85224210;))