Guidi told those attending the 4th Eurasian Forum in Verona that Italy has always supported the idea of continuing dialogue with Russia.
"I hope that the current situation which mars the relations will be passed over soon, and that the decision which would allow to improve the relations between the countries will be found soon," Guidi said.
Russia’s relations with the West deteriorated dramatically amid the Ukrainian crisis.
The United States, the European Union and their allies imposed several rounds of sanctions against Russia accusing it of meddling in the internal crisis in Ukraine.
Russia has denied the allegations, and in turn imposed a year-long embargo on food imports, later extended for another year, against the countries that sanctioned it.
On September 22, the 4th Eurasian Forum opened in the Italian city of Verona. Government and business community representatives from Russia, Italy, Kyrgyzstan, Armenia, Belarus, Kazakhstan, India, China and South Korea are among the participants of the forum.