Kremlin nationalisation move aims to sway G7 sanctions, says Italian businesses in Russia boss

6 months ago 25

The Kremlin’s move to nationalise the Italian company’s Ariston subsidiary is an attempt to influence the G7’s decision to seize Russian assets in Europe, says Vittorio Torrembini, president of the association of Italian entrepreneurs in Russia, Gim-Unimpresa, calling on the Italian Foreign Ministry to intervene.

According to Torrembini, the Kremlin’s move should be viewed as a warning to current G7 president Italy as Russia is trying to put pressure on the Group of Seven’s discussions on confiscating Russian assets in Europe.

“Our judgement, but I believe it is the reality, is that it is a signal sent to Italy to say start thinking about your problems. In short, don’t just think about others’ problems,” Torrembini told Euractiv Italy.

For his part, Tajani has called for the “Russia table” to be held on Thursday in order to continue monitoring the recent decisions taken by the government of the Russian Federation regarding the activities of Italian companies in Russia.

The move comes after the Russian branches of Ariston and Bosch were temporarily transferred to the Gazprom group on 25th April.

On Monday, the Russian ambassador in Rome, Alexey Paramonov, who was summoned to the Italian Foreign Ministry, said that the decision was a “legal and appropriate response to the hostile actions of the United States and other foreign states that have joined them”.

Torrembini sees the meeting with the foreign minister as a “very positive step”. “It is the first time that we sit around a table to assess the problems, consequences, and possible ways out of a difficult situation,” he explained.

The meeting will also be attended by the Secretary General of the ministry, Ambassador Riccardo Guariglia, as well as representatives of Confindustria, the business world, interested professional associations and the heads of the ministries involved.

Torrembini identifies three fundamental problems: “The first is the respect by all European Union states for regulations without these being unilaterally expanded. We want clarity on the application of sanction regulations,” he said.

The second problem is the lack of clarity on the part of the banking system as to what constitutes a legal transaction: “We have now reached a point where even legal ones are no longer possible,” he continued.

Finally, Torrembini added, that “the third is to begin to consider what contribution we can make, even from the world of economics, to resume diplomatic dialogue trying to take the word away from bombs and give it back to diplomacy.”

(Alessia Peretti | Euractiv.it)