Russia will transfer the assets of Ariston and Bosch to Gazprom. Europe called for the withdrawal of this decision. The EU called on the Russian Federation to reconsider the decision to transfer the assets of Ariston and Bosh to Gazprom 04/28/2024, 07:26

EU officials believe that the steps taken by Russian authorities against the Italian Ariston Thermo Group and the German BSH Hausgerate do not comply with international law and call for a review of this decision. This is stated in expression European External Action Service.

“The European Union calls on Russia to reverse these measures and seek acceptable solutions with the European companies they target,” the document says.

The service believes that Moscow’s actions confirm Russia’s status as an “unpredictable player” in the economy.

Transfer of shares to Gazprom

April 26, Russian President Vladimir Putin signed Decree on the transfer of shares of Russian branches of Ariston and BSH Hausgerate to the management of Gazprom Home Systems. According to the decree, Gazprom Home Systems will acquire 100 percent of Ariston Thermo Rus LLC and 100 percent of BSH Ev Aletleri LLC. The decree entered into force from the moment it was published.

Gazprom Home Systems is the largest manufacturer of home gas equipment in Russia and a subsidiary of Gazprom PJSC. BSH Hausgerate GmbH is a German company that produces household appliances under the Bosch and Siemens brands. BSH Home Appliances LLC specializes in refrigerators and washing machines. Ariston Holding NV is an Italian company that produces products under the Ariston brand. Ariston Thermo Rus LLC deals with heating equipment.

Many foreign companies have already sold their headquarters. For example, the structures of the Siemens concern sold the Legion II office center to the Insight group, and KLS Khimki bought the Khimki Business Park office complex from Ingka Centers (the former owner of Mega hypermarkets).

The Italian Ministry of Foreign Affairs summoned Russian Ambassador Alexei Paramonov to discuss the nationalization of Ariston Thermo Group company and the transfer of its assets to Gazprom. Department head Antonio Tajani called Moscow’s decision unexpected and assured that the Italian government would protect the interests of local businesses.

Exchange of blocked assets

Putin signed on November 8, 2023 decreeRegulating the exchange of blocked assets between Russians and hostile foreigners. The decree defines the procedure for selling foreign securities owned by both Russians and foreigners, including persons from unfriendly countries. This is achieved at the expense of funds located in “C” type accounts blocked in Russia with these foreign persons. Currently, it is possible to exchange assets of up to 100 thousand rubles per investor. The conditions for completing the relevant transactions are determined by the Legal Commission on the Supervision of Foreign Investments.

The European Union stated that this decree has no legal validity in the territory of the association.

“Only European financial sanctions regulations have the force of law and are directly applicable in the European Union. The statement stated that Russia’s decrees did not lead to any European obligations. press service Belgian Ministry of Finance.

In contrast, Luxembourg custodian Clearstream published In the message he also emphasized his intention not to participate in the implementation of Russian decrees aimed at unfreezing frozen assets.