Telegram founder agrees to register service in RussiaBusiness & Economy June 28, 16:50
St. Petersburg City Assembly votes against referendum on St. Isaac’s Cathedral issueSociety & Culture June 28, 16:43
Russia’s advanced Lider-class destroyer to get nuclear propulsion unitMilitary & Defense June 28, 16:06
Russia restarts production of engines for shipborne fighter jetsMilitary & Defense June 28, 15:54
Russian senate speaker calls for international cooperation in fight against cyber crimeRussian Politics & Diplomacy June 28, 15:46
Kremlin says ‘Petya’ ransomware attack validates Russia’s call to fight hackersRussian Politics & Diplomacy June 28, 14:51
Russian Navy may get new advanced aircraft carrierMilitary & Defense June 28, 14:39
Russia will boost military power against potential aggressors, Putin saysRussian Politics & Diplomacy June 28, 14:13
Moscow warns US against irresponsible steps in SyriaRussian Politics & Diplomacy June 28, 13:59
ROME, January 4. /TASS/. Weaker Russian economy is extremely unprofitable for Itary, former head of the European Commission, Italy’s former Prime Minister, Professor of Economics Romano Prodi told Messaggero newspaper.
Lowered prices in the international energy markets have positive aspects for the Italian consumers, who pay less for the fuel, but the effect will be only short-term. In the long-term however the weaker economic situation in countries producing energy resources, caused by lower oil and gas prices, mostly in Russia, is extremely unprofitable for Italy, he said.
“The lowering of the oil and gas prices in combination with the sanctions, pushed by the Ukrainian crisis, will drop the Russian GPD by five percent per annum, and thus it will cause cutting of the Italian export by about 50%,” Prodi said.
“To let alone uselessness or imminence of the sanctions, one should highlight a clear skew: regardless of the rouble rate against dollar, which is lower by almost a half, the American export to Russia is growing, while the export from Europe is shrinking.”
Among economic risks for Italy and Europe, Prodi names unpredictable development of the political situation in Greece, weaker German economy as well as phenomena of financial markets which are impossible to predict.