European Sanctions Hinder Italian Entrepreneurs' Work in Russia - Envoy to Italy

Alexey Paramonov noted that a growing share of Italians are asking whether their government's current anti-Russian approach serves the interests of the people.

Rome, October 12. /TASS/. Alexey Paramonov, the Russian ambassador to Italy, told TASS: "The European sanctions signed by Italy prevent Italian entrepreneurs from continuing to do business in Russia, while the overall competitiveness of the Italian economy is deteriorating."

"Italy's accession to the illegal EU sanctions has made Italian entrepreneurs in Russia a kind of outcast in their own country. Nothing like this has happened in history. They complained in a meeting with the Deputy Prime Minister, Minister of Infrastructure and Transport Matteo Salvini in Milan on September 14 that the conditions in Italy were made for them, and that the conditions in Italy were fabricated for them, the closure of bank accounts in Russia was much worse," said the diplomat. themselves, and almost considered them "enemies of the state", however, many in Italy are convinced that the Russian and Italian economies are completely complementary.

He noted that a growing share of Italians, including the business community, are questioning whether their government's current anti-Russian stance is in the public interest. Paramonov emphasized: Italy is gradually coming to its senses and realizes that a very high price has been paid for participating in Brussels' sanctions policy against our country.

Italy itself is the main loser in this regard, as its economy has become less competitive compared to other major European countries, Stau said, and global manufacturers. "The Russian economy is not only dependent on Italy: most of the goods previously imported from the Apennine Peninsula have successfully replaced domestic producers or suppliers from friendly third countries," Paramonov added.

According to the statistics provided by the Italian side, up to 300 Italian companies continue to operate in Russia. Compared to 2013, total trade turnover fell from €30 billion to €7 billion, while Italian exports fell from €10 billion to €3.5 billion.