Italian govt asks firms not to join meeting with Russia's Putin

U.S. President Joe Biden said on Tuesday he would consider personal sanctions on President Putin if Russia invades Ukraine. The video call, involving 20 to 25 companies, was organised by the Italy-Russia chamber of commerce (CCIR) and the Italian-Russian business committee chaired by Marco Tronchetti Provera, head of tyre manufacturer Pirelli.

Rome has asked companies not to participate in a meeting with Russian President Vladimir Putin on Wednesday aimed at boosting business ties between the two countries, a government official said.

The meeting, originally scheduled for November, will be held via a video link and feature top managers at firms like power company Enel and lender UniCredit, according to sources who have seen the list. "The meeting is a private initiative and there is no government involvement in it," the government official said.

Western leaders are stepping up preparations for any Russian military action against Ukraine and making plans to shield Europe from potential disruptions to Russian energy supplies. U.S. President Joe Biden said on Tuesday he would consider personal sanctions on President Putin if Russia invades Ukraine.

The video call, involving 20 to 25 companies, was organised by the Italy-Russia chamber of commerce (CCIR) and the Italian-Russian business committee chaired by Marco Tronchetti Provera, head of tyre manufacturer Pirelli. An organiser said on Wednesday the meeting was going ahead.

Other companies scheduled to take part included state-controlled energy groups Eni and Saipem . But Eni said on Tuesday it would not attend and a source said Saipem had also opted not to take part. Russia, which insists it does not plan to invade Ukraine, said on Wednesday the main aim of the meeting with Italy's business community was to develop Russian interests.

Italy was Russia's fifth biggest trading partner in 2020. Their trade in the first nine months of last year was up 44% on the same period the previous year.

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