The Russian government’s decision to place Italian and German subsidiaries under the control of Gazprom has caused tension between Russia and Western Europe. President Putin signed an Executive Order on Friday, which revealed that Ariston Thermo Rus and BSH Household Appliances are now completely under Russia’s control through Gazprom’s Household Systems division.
The move was seen as a response to unfriendly actions taken against Russia by the United States and other countries. In Italy, Ariston Thermo expressed surprise at the takeover of its subsidiary, Ariston Thermo Rus. Italy’s Foreign Minister, Antonio Tajani, asked the Kremlin for an explanation and clarification on the nationalization of the subsidiary. The European Union condemned the move, questioning its legality and urging Russia to reverse the decision.
This latest move by Russia is just one in a series of measures taken to assert its control over foreign companies operating within its borders. Since the conflict in Ukraine, Russia has taken control of various Western assets, including those of Germany’s Uniper and Austria’s OMV, as a form of retaliation against so-called unfriendly countries. These actions by Russia are seen as a disregard for international law and rules by the EU.