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Putin transfers local Russian units of Italy's Ariston and Germany's BSH Hausgeraete to Russian management

Published 26/04/2024, 16:53
© Reuters. Russian President Vladimir Putin attends the Congress of the Russian Union of Industrialists and Entrepreneurs in Moscow, Russia April 25, 2024. Sputnik/Alexander Kazakov/Pool via REUTERS/ File photo

MOSCOW (Reuters) - President Vladimir Putin has placed the Russian subsidiaries of Italian water heating company Ariston and Germany appliance maker BSH Hausgeraete under the temporary management of a Gazprom (MCX:GAZP) entity, according to a decree published on Friday.

JSC Gazprom Household Systems will act as a temporary manager for the two businesses.

Russia has placed the assets of a handful of Western companies under "temporary management" since the start of the war in Ukraine, justifying such moves as retaliation for actions by other countries against Russian businesses.

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