Putin signs, Gazprom will manage Ariston subsidiaries. Measure also for Bosch. Tajani, government will protect businesses
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 German Bosch to the Russian Gazprom Domestic Systems, the company of the state-owned Gazprom group that 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. The reasons for the decision are not known. However, since the start of the war in Ukraine, Russia has placed the assets of a handful of Western companies under “temporary management”, justifying these moves as retaliation for other countries' actions against Russian firms, hit by sanctions. Last year, Putin signed another decree temporarily transferring the management of the Russian subsidiaries of Danone and Carlsberg to the federal agency for property management, Rosimushchestvo. The measure was adopted after the French and Danish companies had announced their intention to exit the Russian market. 98.56% of the shares of the Russian brewery Baltika, belonging to Carlsberg, and tens of thousands of shares belonging to Danone were placed under the control of the Agency. In the case of Ariston and Bosch, however, management is transferred, again “temporarily”, to another industrial group, albeit controlled by the government. Deputy Prime Minister and Foreign Minister Antonio Tajani spoke on the matter in the evening: “After the unexpected Russian Government decision on the management of Ariston Thermo Group – he wrote in X – I immediately activated our Embassy in Russia and spoke with the leaders of Italian company. The Italian Government is at the side of companies, ready to protect them in all international markets
#RussiaUkraine #war #Kiev #increases #attacks #NATO #pushes #borders #Moscow #threat