Russia’s Zvyagintsev wins Jury Prize at 70th Cannes Film Festival with his LovelessSociety & Culture May 28, 21:32
Three Russian tourists hurt is road accident with tourist minibus in TurkeySociety & Culture May 28, 18:58
Some 40,000 cyclists taking part in Moscow cycle paradeSociety & Culture May 28, 18:33
Corporation Irkut: MS-21 first flight performed in routine modeBusiness & Economy May 28, 16:54
Ukrainian military launch more than 180 shells, mines on Donetsk within one dayWorld May 28, 16:36
Minister: Russia may supply 1,000 MC-21 planes to 2037Business & Economy May 28, 14:42
Lavrov: China, ASEAN interested in organization of Eurasian partnershipRussian Politics & Diplomacy May 28, 11:45
MC-21 airliner makes first test flight - sourceBusiness & Economy May 28, 11:00
Putin congratulates Border Guards on their professional holidayMilitary & Defense May 28, 10:57
The study, unveiled for the participants of the opening Russian-European economic forum in Milan on Thursday, reflects the influence of tensions in the international relations on the Italian exports.
“The sanctions impact and respectively, the lack of growth increases the loss on exports to Russia in the amount estimated at around €3.7 billion over two years (2014-2015) with exports to Russia forecast to fall 17% in 2014 and 21% in 2015, what accounts for 0.5% of Italy’s total annual exports,” the document says.
The Italian experts estimate that the country’s exports to Russia in the first six months of 2014, fell 8.9%, year-on-year. The analysis also takes into account the effect of Moscow’s embargo on agricultural goods (worth €161 million llast year).
“Judging from the cost of the exported goods in 2013, which were embargoed by Russia, and suggesting that these sanctions will continue until natural expiry, we believe that the loss over two years (2014-2015) could reach €188 million,” the study says.
The damage from only the lack of exports growth from Italy to Russia, if taking into account the growth rates over two years prior to the crisis, will reach around €1.7 billion in 2014-2015, the experts say, adding that this is explained that the growth is not observed amid the uncertainty.
The Milan forum focuses on investment in Russia in modern geopolitical conditions and IPO on the Russian market, as well as prospects of developing Russian-European relations amid new economic and political environment.