Abstract
An unprecedented high level of consolidation is observed within the Italian political system, as well as between Italy and its partners in the EU, NATO and G7 in assessing Russia's actions in Ukraine. Italy has actively begun to freeze the assets of Russian "oligarchs". However, Italian companies operating in Russia have chosen a wait-and-see approach and avoid prompt decisions. This leaves hope for pragmatic solutions in case of a more flexible Russian approach to the issues of “nationalization” and “external management”, and in case of positive dynamics of negotiations between Russia and Ukraine. Italy's most pressing challenge is to reduce its dependence on Russian gas.
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