Russia’s “bear” Putin is sharpening his claws to grab more and more European companies

Moscow has transferred the subsidiaries of German and Italian companies to the control of the Gazprom division, thus causing dissatisfaction in Italy and the European Union (EU), the foreign media “Euronews” reported.

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The Kremlin has unexpectedly announced the “temporary external management” of the Russian subsidiaries of Italian water heating company Ariston and German home appliance maker BSH Hausgeraete, which is likely to increase tensions between Russia and Western Europe.

“Ariston Thermo Rus” and “BSH Household Appliances” subsidiaries are now under the management of “Gazprom Household Systems” and are now fully under Russian control, Euronews writes.

The order, signed by Russian President Vladimir Putin and made public on Friday, April 26, and dated Tuesday to April 30, states that the measures are “an urgent response to the United States and other countries and international organizations whose unfriendly and contrary international law existing actions illegally deny the Russian Federation, Russian legal entities and natural persons property rights and/or limit their property rights”.

In Italy, home appliance manufacturer Ariston said it had no prior knowledge that its subsidiary would be taken over. Italian Foreign Minister Antonio Tajani called on the Kremlin to provide an explanation: “The government requests an explanation on the issue of the nationalization of Ariston Thermo Group,” he announced on the “X” social network site.

Questioning the legal basis, the Italian Foreign Ministry, like the European Union, called on Russia to reverse its decision: “These measures against legitimate economic activities are further proof that Russia does not respect international law and regulations.”

Since the start of the war in Ukraine, Russia has taken over “temporary management” of several Western assets, including those of Germany’s Uniper and Austria’s OMV, in retaliation for the actions of “unfriendly countries”.

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