ROME, October 19. /TASS/. The sanctions imposed on Russia primarily affect small European exporters, who have great difficulties with bank payments, President of the Italian-Russian Chamber of Commerce (IRTP) Ferdinando Pelazzo said in an interview with TASS. Many Italians want to continue working on the Russian market, complying with the restrictions of the sanctions regime, he added.

"The sanctions hit the smallest European exporters, who would like to continue doing business within the legal and sanctions framework, the hardest. In the end, this is the party that suffers the most. Those who export around sanctions know what to do, while law-abiding ones who do not violate sanctions are punished, meaning about small and medium-sized enterprises that export footwear, clothing, home furnishings, and goods that are not subject to sanctions," he noted.

According to Pelazzo, the main problem is related to the payment system - the European Central Bank (ECB) is forcing European financial institutions to curtail operations in Russia. "This is a huge problem for Italy and Europe in general, where they can no longer count on credit institutions, which are forced to curtail operations in Russia, obeying the ECB. This is a bigger problem for Italians than for Russia, where they have found ways to make payments for their exports," he said.

He noted that the problem is particularly acute in regions where there are virtually no branches of European banks. "All this makes it impossible for small and medium-sized enterprises to export," Pelazzo explained.

As a result, Italian exports to Russia are in crisis, he added. "There are companies in Italy that mainly exported their products to Russia, and it is difficult for them to find new markets. This situation worries us the most. We are interested in maintaining trade," he concluded.