On 20 May 2022, The Italian Parliament confirmed Law-Decree No. 21/2022 which the Government had enacted in March 2022 to introduce certain significant changes to the Italian rules on foreign investments review (FIR) in response to the invasion of Ukraine by Russia (see our article here). The result is Law No. 51 dated 20 May 2022 (Law 51/2022). By way of background, in the Italian constitutional framework, the issuance of State-wide laws falls within the…

On 22 March 2022, several Government-enacted emergency measures came into force in response to the dramatic humanitarian and far reaching economic effects of Russia’s invasion of Ukraine. These emergency measures are contained in Law Decree No. 21/2022 (“Decree 21/2022”) and they introduce, among others, significant changes to the Italian regulations around foreign investment review (FIR) as this had been set out already exactly ten years ago. Overview The Italian FIR regime applies to any transaction…