"Italy's Foreign Ministry on Unicredit-Russia Dispute"

Italy's Foreign Ministry will address recent Russian actions against Unicredit on Monday. The discussion will focus on the implications and potential outcomes of these actions, highlighting their significance for the financial sector.

ROME, May 19 (Reuters) - Italy's foreign minister and officials will meet on Monday to discuss Russia's recent actions to seize assets or impose restrictive measures on Italian companies, including UniCredit (CRDI.MI), according to sources with knowledge of the matter. On Friday, a Russian court ordered the seizure of UniCredit's assets, accounts, property, and shares in two subsidiaries as part of a lawsuit over an aborted gas project in Russia involving the Italian bank, court documents revealed.

The ruling by a St Petersburg arbitration court covers 463 million euros ($503 million) in securities, real estate, and accounts belonging to UniCredit, as well as 100% of the shares in UniCredit Leasing and UniCredit Garant. Last month, the Russian subsidiary of Italian water heating company Ariston (ARIS.MI) was placed under the temporary management of an entity of Russian gas giant Gazprom (GAZP.MM), as ordered by Russian President Vladimir Putin through a decree.

Sources indicated on Sunday that the legal action against UniCredit and the challenging situation of other Italian companies operating in Russia will be discussed at a meeting on Monday, convened by Italy's Foreign Minister Antonio Tajani.

($1 = 0.9200 euros)

Source: Reuters‍