Nationalizing the troubled Ilva steel plant would create problems with the European Commission, and the government should work on a “market solution” if ArcelorMittal pulls out of a contract to take over the site, Italy’s Deputy Economy Minister Antonio Misiani said on Tuesday. Source Reuters
China has said it will impose sanctions on 11 US citizens including senators and other high profile officials. The sanctions come in response to a decision by the US to sanction 11 Chinese officials and allies in Hong Kong for curtailing political freedoms. Source BBC
Russian gold and foreign currency holdings have risen by over $9 billion in one week. The international funds came closer to the previous peak at the end of last month, as they climbed to the highest point in 12 years to $591.8 billion, according to the latest figures from the Russian Central Bank. The data released on Friday shows that the holdings rose by $9.1 billion. The regulator said that the increase was driven by “positive revaluation” and gold’s rally. Source RT
The Italian Civil Aviation Authority (Enac) threatened on Wednesday to suspend Ryanair’s permit to fly in Italy due to non-compliance with coronavirus (Covid-19) related safety rules. Source Brussels time
