Statement by the President of Confindustria Lombardia, Alberto Ribolla

Milan, 11 January 2016 – “Greater consistency is required in Europe; the measures adopted, which should apply to everyone, too often allow for an ambiguous approach that favours some over others. For this reason, Confindustria Lombardia welcomes this new approach to relations adopted by the Renzi government, particularly regarding the request for Italian companies to participate in the construction of the Nord Stream pipeline, from which our businesses had previously been effectively excluded. We are confident that this is the correct position, especially if it succeeds in promoting the use of Italian technologies and leveraging the expertise of our companies, also as compensation for the lost business resulting from the blocking of South Stream,” stated Confindustria Lombardia President Alberto Ribolla commenting on the Renzi-Putin agreement regarding the Nord Stream project.

“This new interpretation of international relations, based on greater pragmatism, will allow for the development of better commercial relations for the benefit of both Italian companies and our foreign policy, all while safeguarding the country’s interests. And it is precisely with a view to greater pragmatism,” adds Ribolla, “that the issue of sanctions against Russia must soon be raised again; sanctions which, for Confindustria, should be removed immediately. This policy is in fact damaging our companies’ exports but, at the same time, has not represented an obstacle to the business of companies from Germany, the Netherlands, France and Austria within the consortium responsible for the construction of Nord Stream. Italy and its businesses are among those paying the highest price: before the sanctions, Russia accounted for almost 3% of our exports, with a total value of over 12 billion euros.”

Attachments

• Nord Stream statement - 11 January 2016.pdf