Enel SpA Group, Italy’s largest utility company, will step out of its Russian operations in a few months, CEO Francesco Starace said in an interview with Bloomberg TV on Monday.

Just a few days ago, Francesco Starace said that Enel will reduce its exposure to Russia, but does not intend to completely leave this market.

“We are in the process of selling our energy production assets. With regret, I think we need to follow the example of others, “said Francesco Starace.

Enel is present on the Russian market through Enel Russia, which operates three gas-fired power plants with a capacity of 5.7 gigawatts. It also has two wind farms, but does not supply gas from Russia. Founded in 2004, Enel Russia has a 1% contribution to the operating profit of the Italian group, which owns 56% of Enel Russia, according to Agerpres.

Major energy companies around the world, including BP Plc, Shell Plc and Eni SpA, have announced plans to withdraw from their investments in Russia as the war in Ukraine intensifies.

Enel, a multinational energy company and an integrated leader in the global electricity, natural gas and renewable energy markets, operates in over 30 countries around the world, with a total installed capacity of over 88 GW. In Romania, the company is one of the largest private investors in the energy field, with operations in the sector of electricity distribution and supply, as well as the production of electricity from renewable sources, since 2005.