Italian Tire Producer Pirelli to Boost Investments in Russian Economy

© AP Photo / Giuseppe AresuCEO Pirelli Group Marco Tronchetti Provera
CEO Pirelli Group Marco Tronchetti Provera - Sputnik International
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The major Italian auto tire producer Pirelli will increase investments in the Russian economy, Pirelli CEO Marco Tronchetti Provera said Sunday.

Italian Foreign Minister Paolo Gentiloni attends a news conference with his German counterpart Frank-Walter Steinmeier after a meeting at the foreign ministry in Berlin, Germany, Wednesday, June 17, 2015 - Sputnik International
Italian Foreign Minister Hopes EU Sanctions on Russia to Be Lifted
SOCHI (Sputnik) — Currently, Pirelli facilities in Russia are working at full capacity and have means to export stock in trade to other countries, according to Provera.

Earlier in the day, Putin said the Russian economy would be stable and maintain a good development potential despite a decline in domestic demand.

"We have already invested 450 million euros ($511 million) in the Russian economy and intend to continue," Provera said during his meeting with Russian President Vladimir Putin in Sochi.

© AP Photo / Alexei NikolskyRussian President Vladimir Putin, right, and CEO of the Pirelli Group Marco Tronchetti Provera, left, speak after the Formula One Russian Grand Prix at the Sochi Autodrom, in Sochi, Russia
Russian President Vladimir Putin, right, and CEO of the Pirelli Group Marco Tronchetti Provera, left, speak after the Formula One Russian Grand Prix at the Sochi Autodrom, in Sochi, Russia - Sputnik International
Russian President Vladimir Putin, right, and CEO of the Pirelli Group Marco Tronchetti Provera, left, speak after the Formula One Russian Grand Prix at the Sochi Autodrom, in Sochi, Russia
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