Russian Culture Ministry urges Arctic tourism developmentSociety & Culture June 26, 8:27
Scientists call Arctic 'blank space' on world archaeology mapBusiness & Economy June 26, 8:13
Anton Siluanov: “...It's worth any price you pay”Business & Economy June 26, 8:00
Russia hopes Astana talks on Syria will yield package of documents on de-escalation zonesRussian Politics & Diplomacy June 25, 20:31
Russians’ real incomes up by 3% in May - Russian finance ministerBusiness & Economy June 25, 18:39
All doping tests of Russian players at 2014 FIFA World Cup are negativeSport June 25, 15:10
Police refrains from calling Newcastle incident a terrorist attackWorld June 25, 13:14
Putin offers condolences to Pakistan’s president over fire victimsRussian Politics & Diplomacy June 25, 12:39
Fire of fuel tank kills 123 people in Pakistan - TVWorld June 25, 7:58
VERONA, October 22. /TASS/. The Italian export credit agency SACE has suffered losses up to €3 billion due to sanctions against Russia, head of the agency Giovanni Castallaneta said.
"We have already suffered damage for 2014-2015 for the sum of €2.5-3 billion," Castellaneta told the Eurasian Economic Forum in Verona.
Castellaneta said that only recently the agency had granted loans worth €4 billion to projects in Russia. He added that Russia’s VTB Bank and its subsidiary VTB Leasing were among the agency’s key partners.
He also said that Italian exports to Russia and neighboring countries decreased by $6.5 billion.
"This is a kind of an economic war. In the past we deployed ships, artillery batteries against our enemies and now we have other tools such as economic or financial sanctions," Castellaneta said.
He said he hopes that sooner or later this economic war would come to an end.