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Italy to Lose Up to $5Bln From Anti-Russian Sanctions: Research

© Flickr / Dave KellamItaly’s economy could lose up to 4 billion euros ($5 billion) from Western sanctions against Russia
Italy’s economy could lose up to 4 billion euros ($5 billion) from Western sanctions against Russia - Sputnik International
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According to a report published by the Bocconi University, Italy’s economy could lose up to 4 billion euros ($5 billion) due to Western sanctions against Russia.

The United States and the European Union have introduced several rounds of economic sanctions against Russia, targeting Russia's banking, energy and defense sectors. - Sputnik International
Sanctions Against Russia to Damage EU by Trillion Euros: Presidential Aide
MOSCOW, November 27 (Sputnik) – Italy’s economy could lose up to 4 billion euros ($5 billion) from Western sanctions against Russia, according to a report published by a top-10 European business school Thursday.

“The total impact from sanctions and the corresponding lack of growth increases losses from exports to Russia by about 3.7 billion euros over two years [2014-2015],” the report for the fourth Russia-Italy economic forum in Milan by Bocconi University says.

Russian flag and EU flag. Nice - Sputnik International
US Using Sanctions on Russia to Gain Control of EU Economic Policy: Expert

The European Union and the United States have introduced several rounds of economic sanctions against a number of Russian officials and companies in the banking, energy and defense sectors, despite multiple assurances by Moscow that it played no role in the armed conflict in Ukraine.

Russia enforced a one-year ban on the import of certain food products from the European Union, United States, Norway, Canada and Australia. Moscow has repeatedly said the use of "counterproductive" sanctions will have a boomerang effect on European economies.

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