Italy’s Enel Prepares to Exit Russia Within Months, CEO Says
- Utility preparing for safe handover of generation assets
- Calls for regulation of ‘out of control’ European gas market
Source: Enel SpA
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Enel SpA, Italy’s largest utility, will exit from its Russia operations in a “matter of months,” Chief Executive Officer Francesco Starace said on Monday.
The Italian company joins the world’s biggest energy companies, including BP Plc, Shell Plc and Italy’s Eni SpA, that have announced plans to stop investing in Russia amid a swathe of sanctions against the country after its invasion of Ukraine. Finnish utility Fortum Oyj said earlier this month that it will halt all new investments in Russia without committing to a full exit.