Russian sanctions don’t stop Italian investments


June 27th, 2017 – Fort Russ News –
– – – translated by Frederick Assar –

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Investment opportunities in Russia have increased since 2014 despite the sanctions imposed by the West, Banca Intesa Russia’s President Antonio Fallico told reporters.

“The economy has adapted to sanctions”, said Fallico, “although not all business segments are subject to restrictions, and some have special uplifts”. With that being said, the greatest damage to sanctions is that they “undermine confidence”, added Fallico.

Italian companies are interested in the development of economic cooperation between our two countries. “Today, Russia’s economy has grown again,” he continued. Foreign direct investments are increasing. In particular, Italian investors have realized the benefits of transferring their production lines to Russia, particularly in the agricultural and high-tech sectors”. 

For the investors and foreign companies, the Eurasian Economic Union (EAEU) common market is fundamental, as it “covers the territory from Minsk to the borders of China”, and in this space Russia plays a key role.

According to the Intesa Sanpaolo statistical department, trade volume between EAEU countries (Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan) and Italy increased by + 14.7% in the first quarter of this year compared to the same period of 2016, reaching 5.7 billion euros.

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