Italy's Stance: Excluding Russian-Tied Firms from Ukraine's Rebuild

Italy advocates excluding firms that aided Russia's war efforts from profiting in Ukraine's reconstruction. At a Rome conference, 10 billion euros were pledged to assist Ukraine, and Prime Minister Giorgia Meloni emphasized support for Ukraine while maintaining pressure on Russia. Italian banks are adjusting their operations in Russia.

In a decisive move, Italy has stated that companies that have financially supported Russia's military efforts through business dealings should not be allowed to profit from Ukraine's reconstruction efforts.

Speaking at a conference in Rome, Prime Minister Giorgia Meloni announced that more than 10 billion euros were pledged towards Ukraine's recovery. Meloni insisted that firms involved in financing the Russian war machine will be barred from participating in the reconstruction.

The Prime Minister reiterated Italy's commitment to supporting Ukraine, coupled with increased sanctions on Russia. Discussions with Ukrainian officials highlighted banning Russian-linked companies, while Italian banks like Intesa San Paolo and UniCredit scale back Russian operations.

(With inputs from agencies.)