OREANDA-NEWS. Italian company Pirelli intends to increase investment in Russia, despite the sanctions. It was stated by Chairman of the Board of Directors of Marco Company, Tronchetti Provera, by noting that he is not afraid of the current economic situation in Russia.

"We, Italians, consider Russia as a part of Europe. Those investments that we are doing are just the beginning. In addition, we see that the industry in Russia provides a great opportunity for our development and progress. I hope that the situation that we see today, and the slowdown of the economy will soon be over, "- said the head of Pirelli, who is cited by “RBK”.

In July of 2014, "Rosneft" has acquired an indirect share of 13% in Pirelli, then Igor Sechin joined the Board of Directors of the Italian company. After the deal analyzing in terms of its relations with the sanctions of the United States, Pirelli came to the conclusion that there are no violations.

Pirelli - is the Italian company, world's fifth largest tire manufacturer. Pirelli owns 22 plants and it sells its products in 160 countries. In Russia, Pirelli owns 65% in the joint venture with the State Corporation "Rosteh” - Pirelli Tyre Russia, who owns the "Voronezh Tyre Plant" and "Kirov Tyre Plant." These assets were acquired by a joint venture at the end of 2011 from SIBUR.