The trade turnover between Russia and Italy is continuing to decrease as result of economic sanctions against Russia and is comparable to a disaster, which continues to grow in size, the Italian newspaper “Il Nord” wrote.
"Over a short period of time, we have destroyed years of work of Italian entrepreneurs," Antonio Fallico, chairman of the Board of Directors of the Intesa Bank said, cited by the newspaper. He also noted that Italy and Russia are strategic partners and that some Italian companies “cannot do without the Russian market."
The decrease of exports to Russia has become one of the factors leading to the continuation of the economic crisis and rising unemployment in Italy.
Italian Prime Minister Matteo Renzi approved anti-Russian sanctions, but "ignored" the losses that private companies might have to bear, the newspaper wrote.