Italy's foreign minister praises new EU sanction package against Russia

By Giovanni Legorano

ROME (AA) - Italy’s foreign minister said the EU decision to include in its 14th package of sanctions against Moscow some measures allowing European companies operating in Russia to file lawsuits before European national courts to seek redress represents a key step in defending European business interests in the country.

“The decision taken today by the EU was promoted by Italy and it is very important for all the European and Italian companies operating in Russia hit by judicial measures,” Antonio Tajani said at the sidelines of a European Council meeting in Luxembourg.

“Today, the principle according to which (EU) companies can pursue judicial avenues to seek compensation for possible retaliatory actions (by Russia) was introduced. We approved the legal base and the principle that these companies can file lawsuits to seek redress.”

Tajani said that now EU companies can seek damages in case of lawsuits launched by Russian or Russian-controlled entities on contracts or transactions hit by European actions.

He added that the new measures also apply to cases in which EU companies can seek damages in the cases in which Moscow replaced their management in the country with a Russian temporary administration.

He also noted that how to fund the compensation sought by these companies will be determined at a later stage.

Italy has a vested interest in the matter as two Italian companies, Ariston and UniCredit, have been targeted by either Russia’s removal of management or fines, which Italy sees as a retaliation for Western decisions on sanctions or the use of Russian assets to finance Ukraine’s defense in the war against Russia.