Russian Ambassador to Italy Sergey Razov was interviewed by the International Life magazine, website of the Foreign Ministry reported.
According to the Ambassador, “Anti-Russian sanctions supported by Italy and Russia’s reciprocal restrictions affect bilateral cooperation quite seriously. It is difficult to cite the exact quantitative parameters of the damage from the sanctions, but it amounts to billions of euro of lost profits. According to the data of the Italian farmers’ association, Italy’s exports of agricultural products decreased by more than three billion euros in 2014–2018. Russian-Italian trade’s record level was reached back in 2013: $53 bln. This year, it will probably amount to about $25 bln. The reason behind such a drastic decrease in trade is not just the anti-Russia sanctions or reciprocal restrictions, but also a general slowdown of the global economy, as well as the sharp decrease in the global prices for energy carriers, which account for about 80% of Russia’s exports to Italy, in the past five years. In addition, due to changes in the currency exchange, the economic interest in importing goods from the euro zone has fallen. However, the sanctions that restrict our manufacturers’ access to Western finance and technology and add an element of uncertainty to the prospects of cooperation between Russia and Europe have played and continue to play a negative role. At the same time, over the past five years the sides have to a certain extent adapted to the new conditions of economic cooperation. Of course, we cannot ignore the new reality and carry on with business as usual, but generally, as they say, the dogs bark, but the caravan moves on, although it is certainly slower than we would like it to be.”