President Vladimir Putin has signed a decree restoring Aristons ownership of a local subsidiary

Italian household equipment manufacturer Ariston has announced its return to Russia after exiting the market in 2022, according to a company statement.

More than 1,000 Western firms - from well-known retail names such as Adidas, H&M, and Calvin Klein to car giants such as Volkswagen and Ford - have exited Russia in the past three years under pressure from Ukraine-related sanctions.

Ariston has become the first major Western brand to announce a return, after Russian President Vladimir Putin signed a decree on Wednesday removing the firm's Russian subsidiary from the list of companies subject to temporary state administration.

"On March 26, 2025, Presidential Decree... reinstated Ariston Holding N.V. into the possession and full management of the shares of its Russian subsidiary," the company said in the statement.

President Putin's decree reverses his April 26, 2024 order that had transferred control of Ariston's Russian assets to the temporary management of Gazprom Household Systems JSC.

Ariston's executive chairman, Paolo Merloni, said the group is "very pleased with the decision" to reinstate the company as the owner and manager of its Russian unit, Ariston Thermo Rus.

"We believe it reflects an appreciation for decades of responsible investments and management, our dedication to over 300 Russian employees, and the ongoing operations of the company's local business," Merloni said.

According to the executive, the firm will resume activities with local leadership, "adhering fully to existing sanctions, and continue our legacy in the country."

Ariston also stated that its board would need to revisit its previous decision from August of last year to deconsolidate its Russian subsidiary and to account for the related losses.

The development comes amid a US pivot on relations with Russia and shift in tone on the Ukraine conflict, which has sparked speculation that major Western brands which left Russia en masse may be looking to return.

Prime Minister Mikhail Mishustin stated on Wednesday that a special commission will assess each company's case individually. Foreign firms that left "under government pressure" but preserved "jobs, contacts, and technologies," as well as the buy-back option could be allowed back, Mishustin said. He added that companies with unique expertise would be welcomed, provided they comply with localization and investment requirements.

(RT.com)