SIMFEROPOL (Sputnik) – Italy’s Veneto region has lost over $1 billion due to the EU sanction policy against Russia, Stefano Valdegamberi, a member of the region’s parliament, told reporters, adding that it is Ukraine that should pay damages.
"Veneto region lost over $1 billion because of sanctions that are meaningless and counterproductive," Valdegamberi said. "Ukraine needs to pay damages to Veneto region as it provoked these sanctions. We want money to be paid back, we want this money back to Veneto."
Valdegamberi is a member of the Italian delegation of businessmen and lawmakers from the national parliament and local councils that had arrived in Crimea for a three-day visit. The delegates are expected to sign memorandums with Russia in political, cultural and economic spheres.
Italy is losing about $188 million a year, while the trade between Russia and Italy has reduced by 45 percent, with oil and gas equipment manufacturers bearing the brunt of the losses, according to Vittorio Torrembini, the president of the Association of Italian Entrepreneurs Operating in Russia.