Italy Pushes for Exclusion of Russian-Aligned Firms in Ukraine's Reconstruction

Italy advocates for the exclusion of companies that supported Russia from Ukraine's reconstruction profits. With a pledge of over €10 billion, Italy seeks to ensure non-involved companies benefit more. Sanctions continue against Moscow, while a Rome conference introduces schemes to boost EU firm involvement in Ukraine's recovery.

Italy has taken a strong stance against companies that have financially supported Russia, advocating for their exclusion from the lucrative business opportunities arising from Ukraine's reconstruction efforts. Italian Prime Minister Giorgia Meloni emphasized this point during a recent conference in Rome, where over €10 billion was pledged towards Ukraine's economic recovery.

As the European Union continues to impose heavy sanctions on Moscow, targeting various sectors including energy, banking, and military industries, Italy is committed to ensuring that sanctions are upheld and that only companies without ties to Russia reap the benefits of rebuilding Ukraine.

The conference also marked the announcement of a new export guarantee scheme backed by 10 European nations and the establishment of a European Investment Bank-supported equity fund aimed at further stimulating investment in Ukraine, highlighting a concerted effort to revitalize the war-torn nation.

(With inputs from agencies.)