Italian commerce chamber demands termination to Russia sanctions

(MENAFN) The Italian-Russian Chamber of Commerce has called on the Italian government to initiate talks on lifting sanctions against Russia, arguing that the restrictions are damaging to both nations’ economies.

In an interview with Russian business outlet RBK on Wednesday, chamber president Vincenzo Trani highlighted that sanctions targeting sectors like aviation, finance, and investment have been especially detrimental. Italian exports to Russia have dropped by half, falling to around €4 billion ($4.5 billion), while new US tariffs on EU goods are increasing pressure on Italian companies, he noted.

Trani said he recently contacted Prime Minister Giorgia Meloni’s office to raise these concerns and expressed the chamber’s willingness to engage in dialogue to address the economic strain.

He pointed to a similar move by Robert Agee, head of the American Chamber of Commerce in Russia, who submitted a proposal to Washington in March advocating for targeted sanctions relief — particularly in the civil aviation sector, including lifting bans on aircraft maintenance and spare parts.

Trani backed the proposal, calling aviation restrictions "especially severe," and warned that countries enforcing such bans could be held accountable if safety issues arise.

He also questioned former Prime Minister Mario Draghi’s past stance on energy independence from Russia, recalling Draghi’s recent admission that current energy prices were unsustainable. Trani noted that the energy sanctions responsible for the price surge were imposed during Draghi’s time in office. “Why didn’t he consider the consequences earlier?” he asked.

Since 2022, Western nations have imposed sweeping sanctions on Russia, including bans on oil shipments, financial restrictions, aviation measures, and the freezing of roughly $300 billion in Russian reserves. The EU has significantly reduced its reliance on Russian energy, though Russia still supplied about 19% of its gas and LNG imports in 2024, mainly through a pipeline via Türkiye and LNG cargoes.

Moscow has consistently denounced the sanctions as illegitimate and counterproductive. Russian President Vladimir Putin has argued that the West’s goal of sidelining Russia economically has instead strengthened the country's resilience.

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