The European Commission has approved the acquisition of Italiana Petroli S.p.A. by Azerbaijan's SOCAR, confirming that the deal does not raise competition concerns. The agreement allows SOCAR to acquire 99.82% of Italiana Petroli's shares, which operates two refineries in Italy and a network of 4,500 fuel stations. Analysts suggest the deal has broader strategic implications for energy supply diversification in Europe, particularly in light of the EU's efforts to reduce reliance on Russian energy. The acquisition is seen as a positive signal for Italy's energy sector and regulatory stability.