MILAN Aug 5 The presence of oil giant Rosneft
in the share capital of tyremaker Pirelli
does not violate U.S. sanctions against Russia, Pirelli chief
Marco Tronchetti Provera said on Tuesday.
Tronchetti Provera said a legal opinion from a top law firm
on the issue had been received two days ago, saying Pirelli was
not in violation of the U.S. Office of Foreign Assets Control on
account of the presence of Rosneft or of its head Igor Sechin on
the Pirelli board.
Rosneft has a stake in a company that controls Pirelli.
"We wanted to have a formal answer from an American law firm
to make all our investors confident and comfortable," Tronchetti
The U.S. Office of Foreign Assets Control administers trade
sanctions for the U.S. Treasury.
(Reporting by Agnieszka Flak, writing by Stephen Jewkes)