Sanctions harm: Italy intends to defend their abolition

Sanctions harm: Italy intends to defend their abolition


At the XI Eurasian Economic Forum, they called for the resumption of friendly relations with Russia.

Anti-Russian sanctions must be lifted. This opinion was unanimously received by the participants of the XI Eurasian Economic Forum in Verona. As a result of the US policy of imposing restrictions on Russia, European countries may become the main victims. The dynamics of commodity turnover today testifies that the EU is moving towards self-isolation. At the same time, the damage from the sanctions has already exceeded $ 335 billion.

The contradictions of 2018 need to be resolved in a calm atmosphere, at the negotiating table, Italy’s Deputy Prime Minister Matteo Salvini said opening the forum. According to him, in the 21st century, wars and sanctions are not needed. In turn, the mayor of Verona, Federico Sboarina, noted that Italy plays an important role in European trade with Russia and the restrictive measures of the EU have a negative effect on Italian business. He stressed that Verona, which ranks third among Italian cities in trade with the Russian Federation, will do everything possible to develop bilateral relations. For the accelerated growth of the world economy, the EU and the EAEU should move from competition to cooperation, added the head of the Cognize Eurasia Association, Chairman of the Board of Directors of Bank Intes, Antonio Fallico.

“The Russian side is ready for constructive cooperation with all partners on the Eurasian continent,” said the head of Rosneft, Igor Sechin, greeting the President of Russia, Vladimir Putin, to the forum participants.

One of the measures to counter the restrictions, according to the head of VTB Andrey Kostin, is to switch to settlements with trading partners in other currencies, in particular, in rubles, and not dollars.

“This coincides with the opinion of Mr. Juncker (European Commission head Jean-Claude Juncker. -“ Izvestia ”), who recently said that the European Union in resource trading should develop trade in the euro in the first place, he said.

To switch to settlements in national currencies, the Russian government has prepared a special plan for the de-dollarization of the economy. In addition to abandoning the dollar in settlements with other countries, the document also contains measures to motivate banks to issue only ruble loans to businesses, as Izvestia wrote earlier.

Andrei Kostin added that oil companies are taking a cautious stance in this regard because they are used to working with the dollar. However, in the current situation, it is necessary to think about how to protect partnerships from the possible impact of sanctions on financial and industrial institutions, he stressed. At the same time, the banker noted that the Russian financial sector is now stable and demonstrates record profits.

Europe may suffer the most from anti-Russian sanctions, stated former Italian Prime Minister and former European Commission head Romano Prodi. In the current situation with trade, it can be concluded that the European Union is actually moving in the direction of isolation. Moreover, if Russia can compensate for the costs of restrictive measures by reversing to the East, and the United States - at the expense of protectionism, then Europe has no reserve plan, he added.

Earlier, Antonio Fallico estimated the losses of the world economy from anti-Russian sanctions at $ 335 billion. According to the calculations of the Austrian Institute for Economic Research, Germany, Italy, France and Spain suffered the most. The number of jobs in these countries has declined by a total of about 1 million.

At the same time, for Russia the retaliatory measures imposed on Europe - the so-called pro-barbargo - have become an opportunity to support domestic producers. So, according to various expert estimates, now the total share of Russian products on the shelves is 77%. And on the main goods: bread, milk, meat, fish, cereals and eggs - in fact, 100%, was previously estimated at Rusprodsoyuz.