Russian bear Putin sharpens his claws to take hold of more European businesses

Euronews ^ | 30 April 2024 | Doloresz Katanich

[MeganC]

Moscow puts subsidiaries of German and Italian firms under the control of a Gazprom division, sparking annoyance from Italy and the EU.

In a move that is likely to increase tension between Russia and Western Europe, the Kremlin has unexpectedly announced the "temporary external management" of Russian subsidiaries of Italian water heating company Ariston and German appliance maker BSH Hausgeraete.

The subsidiaries, Ariston Thermo Rus, and BSH Household Appliances, now come under the management of Gazprom's Household Systems and are now completely under Russia's control.

The Executive Order, signed by President Vladimir Putin, which was revealed on Friday and backdated to Tuesday, states the measures are "an urgent response to the United States and other countries and international organisations whose actions, unfriendly and contrary to international law, illegally deny the Russian Federation, Russian legal entities and individuals property rights and/or restrict their ownership titles".

In Italy, household appliance maker Ariston said it had no prior knowledge that its subsidiary was going to be taken over.

Italy's Foreign Minister Antonio Tajani has called on the Kremlin for an explanation: "The government requests clarification on the matter of the nationalisation of the Ariston Thermo Group," he said on X.

#Russia Ho dato mandato al Segretario generale della #Farnesina di convocare l’ambasciatore della Federazione russa in Italia. Il Governo chiede chiarimenti sulla vicenda della nazionalizzazione dell’Ariston Thermo Group. Al lavoro anche con Bruxelles,in raccordo con la Germania.

— Antonio Tajani (@Antonio_Tajani) April 27, 2024 Questioning the legal basis, the Italian foreign ministry called on Russia to reverse its decision, as did the European Union, saying: "These measures, targeting legitimate economic activities, are yet further proof of Russia's disregard for international law and rules."

Since the war in Ukraine began, Russia has taken a number of western assets, including those of Germany's Uniper and Austria's OMV, under "temporary management", as retaliation for actions by "unfriendly countries".

[MeganC]

I highly encourage this move by Putin and Moscow. It serves to further isolate the Russian market from consumer goods and perhaps devices whose controls can be repurposed for military use. Russian actions like this ensure that it will be decades or even longer before Western businesses make any serious investments in Russia.

Also, I am quite pleased to see the Europeans face some sort of consequence for their actions when all too often they think their actions will be unilateral and without consequence.

[Skywise]

Yup - not retaliatory at all for Biden stealing all the Russian owned assets out of western banks and giving them to Ukraine.

[Sunsong]

“I highly encourage this move by Putin and Moscow. It serves to further isolate the Russian market from consumer goods and perhaps devices whose controls can be repurposed for military use. Russian actions like this ensure that it will be decades or even longer before Western businesses make any serious investments in Russia.”

putin isn’t the brightest bulb, he’s cruel and dangerous, not smart

[E. Pluribus Unum]

[JonPreston]

He’s on the March and there’s no stopping him now.

[JonPreston]

May it be ever so humble!

[z3n]

I thought Ivan Koloff was the russian bear

[MeganC]

“He’s on the March and there’s no stopping him now.”

Yup. Putin will be in Berlin by lunch time tomorrow. And then on to Paris!

[MeganC]

Hello, thought you might want to send this one out to your ping list.

(-;

[JonPreston]

lord willing!

[Kazan]

So, the West has expressed the desire to steal $300 billion in Russia assets and gets in panties in a wad when Russia retaliates?

[Kazan]

We blew up the Nord Stream pipelines and we’re whining about this?

[MeganC]

“So, the West has expressed the desire to steal $300 billion in Russia assets and gets in panties in a wad when Russia retaliates?”

Yep. The Europeons are at heart leftists who always think it’s “unfair” when their tactics are used against them.

Honestly, I see no downside in this story from my perspective.

Sneering European elites get their nose rubbed in it by Russia and Russia does more short-term and long-term damage to the Russian economy than the Europeans intended to do.

[rottweiller_inc]

I have to agree. Europe, the US, NATO, all are guilty of shortsightedness and hubris.

[moovova]

Putin needs a retirement plan. It’s obvious Vlody is kicking Putin’s butt. LOL.

[MeganC]

“Europe, the US, NATO, all are guilty of shortsightedness and hubris.”

Precisely.

I remember as a child hearing about “The Peace Dividend” at the end of the Cold War when Europe, the US, and NATO decommissioned hundreds of military bases and warships thinking that The Age of Aquarius was at hand and the whole world was then going to hold hands and sing “Kumbaya”.

Now a lot of those bases are being reconsidered and even rebuilt. We’re reconsidering our naval power in the face of a Chinese Greater East Asia Co-Prosperity Sphere. The overt threats of the Russians to invade and occupy the former Soviet empire is causing the Europeans to increase defense spending.

“The price of liberty is eternal vigilance” and our leaders failed us in that regard.

[MeganC]

Odd question here, but if Putin had to flee Russia where would he go?

[PIF]

Yup - not retaliatory at all for Biden stealing all the Russian owned assets out of western banks and giving them to Ukraine, from where the Russians stole most of their loot.

[canuck_conservative]

Look at the map - between Nov. 22 and today (18 months), there's virtually no change in territory, but meanwhile Russia sentenced 90,000 of its own troops to death with wasteful meat-wave attacks

That's not winning

Russia wants to throw way thousands of its own men, for meagre land gains? Ukraine can do that all day long, LOL!

[wiseprince]

Yea, the smart people are thoae qho put sanctions on him only to see his countries GDP outpace their expectations (their words, not mine). Under estimating people seems to be a favorite of the right. Taliban, Biden and Putin. To say nothing of Assad and Muduro.