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Italian Steel Giant Danieli Leaves Russian Market Amid Accusations of War Sponsorship

Friulian Daniel — Italian multinational leader in the production of wrought steel and in steel processing technologies himself — announced that he will leave the Russian market.

«The Russian market is lost», said Gianpietro Benedetti, president of the group, «but we already have buyers for our asset». “The evolution of geopolitical scenarios has led us to understand that trade relations and presence on the Russian market are no longer possible,” he said.

The company had been accused by Ukraine of aiding Putin’s rearmament, and had replied that it had always operated in compliance with the sanctions.

Agiya Zagrebelska, head of the sanctions directorate of the Ukrainian government’s National Agency for the Prevention of Corruption, said that “according to information from open sources and according to customs information, various transactions took place between Danieli and Severstal after the start of the all-out invasion of our country. This information – continues Zagrebelska – they give us the basis for considering Danieli an international sponsor of the war in Ukraine». The accusation against the Italian company concerned the supply of machine tools and components for working the steel then used for supplies to the Moscow army, starting precisely from the activities of the Severstal group.

Nell’last year Danieli’s turnover exploded to over 3.6 billion euros with activities in many dozens of countries, net income nearly tripled to 219 million and employees are now just under ten thousand.

Danieli was a major technology partner of Ukrainian steel companies before the start of the war.

2023-04-28 14:12:03
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