Italian Commerce Chamber Demands Easing Russian Sanctions

(MENAFN) The Italian-Russian Chamber of Commerce has called on the Italian government to initiate discussions aimed at removing existing sanctions, emphasizing that the penalties are adversely affecting the financial interests of both nations.

In a recent conversation with a Russian business newspaper, the chamber’s head, Vincenzo Trani, expressed concern about the negative impact of sanctions targeting the aviation, financial, and investment sectors.

He highlighted that Italian exports to Russia have dropped significantly, falling to roughly EURO4 billion (USD4.5 billion).

Trani also pointed out that new U.S. tariffs on European Union products have further intensified challenges for Italian businesses.

“Two weeks ago, I asked [Italian] Prime Minister [Giorgia Meloni’s] office to consider these important issues in relations between Italy and Russia so that our government is aware of the chamber’s readiness to participate...” Trani remarked.

He emphasized the chamber’s willingness to engage in efforts to improve bilateral relations.

Trani referenced a similar action taken by Robert Agee, the president of the American Chamber of Commerce in Russia.

In March, Agee had presented a document to U.S. officials advocating for selective sanctions relief, particularly in the area of civil aviation.

This initiative recommended lifting restrictions on maintaining Western aircraft in Russia and providing replacement components.

Trani expressed firm endorsement of the proposal, describing the aviation-related restrictions as “particularly harsh.”

“If something happens, the countries that imposed these measures will bear responsibility,” he warned, underscoring the potential risks associated with continued sanctions.

Additionally, Trani criticized prior remarks made by former Italian Premier Mario Draghi, who had claimed that Italy could substitute Russian energy supplies.

Trani appeared to challenge the practicality of that assertion, suggesting that the consequences of the sanctions require a more nuanced and realistic approach.

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