Italian heating technology manufacturer Ariston Thermo has announced its return to the Russian market, after withdrawing in 2022. The company’s chairman, Paolo Merloni, expressed satisfaction with the Russian authorities’ decision to recognize Ariston as the owner and manager of its Russian subsidiary.
According to Merloni, the company will resume its activities with local leadership, while fully complying with existing sanctions. Ariston is the first major Western brand to announce its return, following a decree signed by Russian President Vladimir Putin, which removed the company’s Russian subsidiary from a list of enterprises subject to temporary state management.
This development comes amid speculation that large Western brands that left Russia may be looking to return. The decree, signed by Putin, revokes an order from April 26, 2024, which had placed the Russian assets of Ariston under the temporary management of Gazprom Household Systems JSC.
Russian Prime Minister Mikhail Mishustin stated that a special commission will review the case of each individual company. Foreign companies that departed “under government pressure” but maintained jobs, contacts and technologies, as well as the option to repurchase, can resume their activities, he said. The official added that companies with unique competencies are welcome, provided they meet localization and investment requirements.