The Italian corporation Ariston Holding NV issued a statement after Russian President Vladimir Putin canceled on March 26 the decision to transfer the Russian assets of Ariston (Ariston Thermo Rus), to the temporary management of Gazprom Household Systems.
“We are very pleased with the decision of the Russian authorities to reinstate Ariston Group as the owner and manager of our Russian subsidiary. We believe it reflects an appreciation for decades of responsible investments and management, our dedication to over 300 Russian employees, and the ongoing operations of the company’s local business. We intend to resume activities with our Russian local leadership, adhering fully to existing sanctions, and continue our legacy in the country,” Paolo Merloni, Executive Chairman of Ariston Group, said in the company statement.
In April 2023, the President of Russia Vladimir Putin signed a decree on retaliatory measures in case of seizure of Russian assets abroad. According to this decree, in case of withdrawal or restriction of property rights Russia abroad is introducing external management on the assets of unfriendly countries in Russia. At the same time, the document notes that the temporary asset management of unfriendly countries may be terminated by decision of the President of Russia.
In April 2024, Putin signed a decree on the transfer to the temporary management of the Russian Gazprom Household Systems subsidiary Ariston. After that, the Italian Foreign Ministry summoned the Russian Ambassador to Rome, Alexei Paramonov. Italy called the transfer of the company unexpected and demanded an explanation from the Russian diplomat.
The Italian government is on the side of companies, ready to protect them in all international markets, Italian Foreign Minister and Deputy Prime Minister Antonio Tajani said at the time.
Listed on Euronext Milan since November 2021, in 2023 the Ariston group reported almost 3.1-billion-euro revenues, with over 10,000 employees, direct presence in 40 countries in 5 continents, 29 production sites and 29 research and development. centers
