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Dissatisfaction with Russia's mandatory management of EU companies

Dissatisfaction with Russia's mandatory management of EU companies

Germany and Italy reacted angrily to Moscow's decision to place Bosch household appliances company BSH and the Russian subsidiary of Italian heating technology company Ariston Thermo Group under the “temporary supervision” of Gazprom Group. The German Foreign Ministry said today: “We condemn the mandatory administration that was issued, and reserve the right to respond further in close coordination with Italy.” The Italian government summoned the Russian ambassador.

Italian Foreign Minister Antonio Tajani said on Twitter: “The government is demanding clarification regarding the nationalization of the Ariston Thermo group.” Italy is also working on this matter “with Brussels in cooperation with Germany.” Tajani said he also discussed the matter with Ariston management. His government “stands by companies” and is “ready to protect them in all international markets.”

A European Union spokesman condemned Moscow's actions and described them as “further evidence of Russia's disregard for international laws and rules.”

President Vladimir Putin had previously published in Moscow a decree transferring control of all Ariston shares in Russian companies to Gazprom Home Systems, a subsidiary of Russian state gas giant Gazprom. Affected are the Ariston Thermo Rus subsidiary of Ariston Holding NV, as well as the household appliances company BSH, which in turn belongs to BSH Hausgeräte GmbH – a joint venture founded by the German companies Bosch and Siemens and completely transformed into a proprietary company since 2015 owned by Bosch.

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