According to the Italian magazine ‘Corriere della Sera,’ Italy has officially withdrawn from The Belt and Road Initiative (BRI) project of China.
As per the Italian government sources, information about the decision regarding the Belt and Road Initiative project had been communicated to Beijing three days ago.
Italian government sources, speaking with AFP, stated that beyond the decision to ‘keep open political dialogue channels’ with Rome, no detailed information had been provided, and after the extensive details were not disclosed, the confirmation was later removed. The decision to join the project in 2019 by the previous government just before coming to power last year was considered a ‘serious mistake’ by Prime Minister Giorgia Meloni.
Critics have referred to the trillion-dollar investment plan as a ‘Trojan Horse,’ aiming to buy political influence. The Italian Foreign Minister, Antonio Tajani, had stated last September that the project did not provide the expected results.
Italy’s Diplomatic Decision
Italy was supposed to renegotiate the deal until the end of this year or withdraw without penalties. However, Rome has been cautious in not upsetting Beijing and risking retaliation against Italian companies.
Prime Minister Meloni, during a meeting with journalists in Delhi in September, had talked about being cautious with China and warned against revenge against Italian companies. Meloni had also indicated that Italy might leave the project without reaching a final agreement until March 2024.
This move signals Italy’s intention to distance itself from Beijing and be cautious about retaliation from Chinese companies. Prime Minister Meloni, during the September G20 Summit in Delhi, had discussions with journalists and hinted at not reaching any agreement with China on the Belt and Road Initiative project Italy Officially Withdraws from China’s Belt and Road Initiative: A Cautious Step by Romect.
