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Putin’s War Is Forcing Italy to Rethink Its Historic Ties to Russia

Enel SpA sold its remaining stake in its Russian unit this month, a dramatic reversal for the Italian utility, which had been betting heavily on Russia since the early 2000s. Enel said it began selling its Russian assets in 2019. Eni SpA, which established energy relations with Moscow back in the Soviet era, has meanwhile worked with the Italian government to support its diversification of energy sources, signing new deals in Algeria, Angola and Qatar.

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