Italian entrepreneur rejects criticism of call with Putin | Investment News

[ad_1]

MILAN (Reuters) – Businesses have the right to protect their interests in Russia even in times of growing tensions, an Italian chief executive said on Friday, dismissing criticism of a call he helped organize this week to business leaders with Russian President Vladimir Putin.

Leaders of major Italian companies, including energy group Enel, the country’s two main banks Intesa Sanpaolo and UniCredit and insurer Generali, joined the virtual meeting with Putin on Wednesday, aimed at strengthening trade relations between the two countries.

The meeting sparked controversy amid a buildup of Russian troops on its border with Ukraine, and went ahead despite a government official saying Rome had advised business leaders not to attend it.

It was organized by the Italian-Russian Chamber of Commerce and the Italian-Russian works council chaired by the general manager of the tire manufacturer Pirelli, Marco Tronchetti Provera.

Tronchetti Provera said on Friday that the meeting had been planned since November and that the fact that it took place against the backdrop of the Ukraine crisis was entirely coincidental.

“Companies have a duty to grow, to protect their investments and their workers abroad,” he said after an event to celebrate Pirelli’s 150th anniversary, adding that companies from other European countries were keen to similar meetings with Putin.

Tronchetti Provera said the companies must also abide by guidelines given by their respective governments and rejected suggestions Rome had called on leaders to avoid the meeting.

“So we did what we had to do,” he said.

(Reporting by Giulio Piovaccari; Editing by Mark Potter)

Copyright 2022 Thomson Reuters.

[ad_2]