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Priolo, government decree for trusteeship

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Priolo, government decree for trusteeship

The idea of ​​saving the Priolo refinery with a temporary passage under state management is being advanced. Not a real nationalization, according to what has been reconstructed at the moment from sources involved, but a procedure similar to that adopted by Germany for the Rosneft refineries.

A provision could arrive at the council of ministers perhaps as early as November 30, or at that of the following week, with the possible form of a decree law. However, there are still assessments of the ministries involved: Business and Made in Italy, Environment and Energy Security as well as the Economy which maintains a certain prudence. The solution is complex, technically it would be a question of legal forcing but in a possible confrontation with the Commission, the government could precisely enforce the German precedent of the trusteeship. This inspired an amendment by the Sicilian senator Antonio Nicita (Pd), prepared for the Dl Aiuti quater, but whose outline could coincide at least in the main lines with the intervention that the government is urgently studying.

Isab, owner of two refineries in the heart of the industrial area of ​​Syracuse, is headed by the Russian Lukoil and risks closing in on the pincer between the lack of credit from the banks, which fear indirect sanctions, and the embargo on Russian oil to be refined which is triggered on December 5th.

The road to nationalization

At the moment, nationalisation, i.e. the direct acquisition of the corporate control package by the Italian state, seems to be a very daring road. Instead, by borrowing the German law on energy security, work would be done, first of all, as in Germany, to extend the current field of application of the “golden power”, i.e. the special powers on the part of the government, to apply them to even different acts and resolutions and prior to a sale transaction.

National strategic relevance

Then, where it is demonstrated that business continuity is at risk, the plants, considered a critical infrastructure of strategic national importance, could be subjected to a temporary trusteeship regime (for example, Nicita’s proposal would provide for 6 months which can be extended at most until at one year). In essence, the regulatory hypothesis provides for a sort of time-limited state commissioner. During this period the property could continue to evaluate possible transfer offers, which are at this stage supported by the government: contacts, also mediated by advisors, would be in progress but time is needed to evaluate their feasibility.

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