The Promise, as detailed by Clanbook Giovanni, states only (paraphrasing): The Giovanni promise to remove themselves from the affairs of other Kindred. The Camarilla will not interefere in the affairs of Clan Giovanni.

This can be clarified as follows:

Terms:

Giovanni: includes embraced members of Clan Giovanni, as well as any mortal member of the extended families of the Giovanni (inc. Milliner, Dunsirn, etc etc), Giovanni ghouls, and mortal business associates, alive or dead.

Camarilla member: Any acknowledged member of the Camarilla, and including also kindred under the accounting of acknowledged Camarilla members, and their ghouls, and mortal business associates.

Interfere: To intervene unasked in the affairs of others and often in an impudent or indiscreet manner. Interfere implies action that seriously hampers, hinders, or frustrates.

Points:

• The Giovanni are free to reside wherever they see fit. They may buy a house anywhere, and live in it, without needing approval from a Prince. It is often considered polite to inform the Prince that you are in their city, and this is often a prerequisite for being invited to Court. A Prince cannot demand that Giovanni leave their city - this interferes in the Giovanni's affairs. They can demand that no Giovanni may attend their court.
• The Giovanni are free to conduct their businesses as they see fit. They may buy companies and run them, without needing approval.
• The Giovanni are permitted to attend Court, and other Camarilla events, if invited. Intruding without invitation could be considered interference. It should be noted that "Court" is the event, and "Elysium" is a place. Court is frequently held in Elysium, but this is not a requirement.
• The Giovanni are free to conduct business and make deals with other Kindred. They are free to both give and receive boons. Note, such deals cannot be directed against the Camarilla, or its members. It is ok to make a deal to take over a company together. It is not ok to make a deal to kill someone, or put someone in the Prince position.
• The Giovanni are free to conduct their own affairs, as long as those affairs do not interfere with the Camarilla. Breaking the Masquerade, by definition, intereferes with the Camarilla's primary purpose. A family member destroying another family member does not, nor does a family member embracing a family member. (I.E. - Giovanni need not get "Right of Destruction", or "Right of Progeny" for their own family, these are Giovanni affairs.)
• The Giovanni may enter into deals with non-Camarilla kindred, as long as such deals are not directed at or against the Camarilla, or its members.
• The Camarilla is free to uphold the social and political institutions of Kindred, enforcing their traditions to the extent that they do not interfere with the affairs of the Giovanni.
• The Camarilla cannot be held responsible for violations of the Promise if they are unaware that a Giovanni was involved. Any Giovanni who chooses not to notify a Prince that they're visiting a domain does so at their own risk, and with no protection from the scourge of the domain.
• Violations of this promise should be handled by the authorities of the sect/family whose member violated the promise. Giovanni are to be brought to their Don for punishment, Camarilla members to their Prince. In the case of a Don/Prince breaking the promise, the matter should be escalated to the Director/Archon level, or higher. Repeat transgressions by a member can be considered evidence that a good-faith effort to punish the transgressor has not occured, and should also be escalated.
• The Sabbat: The Sabbat has no such non-involvement treaty with the Giovanni. They have never promised to stay out of Giovanni affairs, nor the Giovanni to stay out of theirs. The Giovanni are free to conduct business with the Sabbat at their own risk. Flaunting this to Camarilla authorities isn't smart.

Conclusion: The Giovanni have certain long-term plans that are facilitated by avoiding other kindred, who would certainly attempt to stop them if they knew. Venice is in Europe, which is a highly Camarilla area of the world. It should go without saying that while Giovanni strive to maintain neutrality, the Camarilla are a little more favored in dealings than the Sabbat. In the clanbooks and WW history, during the War for New York, the Giovanni helped the Camarilla take the City.

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