The recent decision by the Kremlin to take control of Italian and German subsidiaries in Russia has sparked tensions between Russia and Western Europe. This move, which was signed by President Putin in an Executive Order, places Russian subsidiaries of these companies under Gazprom’s Household Systems division.
Italian company Ariston Thermo expressed surprise at the nationalization of its subsidiary, Ariston Thermo Rus, which is now completely under Russian control. Italy’s Foreign Minister Antonio Tajani has demanded an explanation and clarification from the Kremlin regarding the takeover of the subsidiary. The European Union has also condemned the move, questioning its legality and urging Russia to reverse the decision.
Russia’s actions are seen as a disregard for international law and rules by the EU. Since the conflict in Ukraine, Russia has taken control of various Western assets as a form of retaliation against so-called unfriendly countries. This recent move with Italian and German subsidiaries is just the latest in a series of measures taken by Russia to assert its control over foreign companies operating within its borders.
