09:44 GMT +320 November 2019
Listen Live
    Italian Flag

    Italy to Lose Up to $5Bln From Anti-Russian Sanctions: Research

    © Flickr/ Dave Kellam
    Get short URL
    0 11

    According to a report published by the Bocconi University, Italy’s economy could lose up to 4 billion euros ($5 billion) due to Western sanctions against Russia.

    MOSCOW, November 27 (Sputnik) – Italy’s economy could lose up to 4 billion euros ($5 billion) from Western sanctions against Russia, according to a report published by a top-10 European business school Thursday.

    “The total impact from sanctions and the corresponding lack of growth increases losses from exports to Russia by about 3.7 billion euros over two years [2014-2015],” the report for the fourth Russia-Italy economic forum in Milan by Bocconi University says.

    The European Union and the United States have introduced several rounds of economic sanctions against a number of Russian officials and companies in the banking, energy and defense sectors, despite multiple assurances by Moscow that it played no role in the armed conflict in Ukraine.

    Russia enforced a one-year ban on the import of certain food products from the European Union, United States, Norway, Canada and Australia. Moscow has repeatedly said the use of "counterproductive" sanctions will have a boomerang effect on European economies.


    Merkel: Sanctions Against Russia to Remain in Force
    Russia Not to Nationalize Foreign Companies Assets in Response to Sanctions
    EU Likely to Lift Sanctions if Russia Respects Minsk Agreements: Chairman
    US, EU ‘Actively Discussing’ Further Sanctions Against Russia: State Dept.
    sanctions, Italy, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik