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.