MOSCOW: Italian exports to Russia shrank again in 2016. Italian Trade Agency data show that Italian exports of goods and services to Russia amounted to €6.5 billion in the past 12 months, down from €7.1 billion in 2015. This is the third consecutive decline since in 2013 Italian exports to Moscow reached €10.8 billion.
The decrease is due to the sanctions still in force against Russia, imposed after the annexation of Crimea and tensions with Ukraine. Imports are falling and reached €14.4 billion, down from €17.3 billion the year before. In 2014, Russian exports to Italy amounted to €20.2 billion.
