By Giuseppe Fonte and Giselda Vagnoni ROME (Reuters) -Italy approved an aid package worth some 14 billion euros ($14 billion) on Friday to shield firms
Italy approved an aid package worth some 14 billion euros ($14 billion) on Friday to shield firms and families from surging energy costs, in probably the last major act by outgoing Prime Minister Mario Draghi before a Sept.
ISAB, which is Italy's biggest oil refinery by capacity, used to buy 30-40% of its feedstock from Russia, with the rest coming from international markets. But one of the effects of Russia's invasion of Ukraine is that ISAB has been forced to source nearly all of its crude oil from Russian owner Lukoil because international banks are no longer providing it with credit.