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Italian Exports to Russia Reach a Decade Low in January Due to Food Embargo

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"Made in Italy" enterprise's export level to Russia hit a 10-year low last month, Italy’s Coldiretti federation of farmers said Sunday.

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ROME (Sputnik) – Export levels of "Made in Italy" products to Russia reached 10-year lows last month, Italy’s Coldiretti federation of farmers said Sunday.

"Made in Italy" exports to Russia were down 24 percent year-on-year in January 2016, Coldiretti said in a tweet.

In an analysis provided by the Italian AGI news service, Coldiretti attributed the drop to a Russian food and agricultural embargo on products from the United States, Canada, Australia, Norway and the European Union.

The federation assessed losses in the agricultural sector alone at $262 million in 2015.

In total, Italian exports to Russia contracted by $4 million to reach $7.7 million last year.

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