The restrictions have been hurting the EU countrys firms and should be reassessed, according the groups president

The Italian-Russian Chamber of Commerce has urged Rome to start talks on lifting sanctions, saying that the restrictions are hurting the economic interests of both countries.

In an interview with Russian business daily RBK published on Wednesday, chamber president Vincenzo Trani said the sanctions on aviation, investment, and banking were particularly harmful. He noted that Italian exports to Russia have halved to around €4 billion ($4.5 billion) and that new US tariffs on EU goods have raised pressure on Italian firms.

"Two weeks ago, I asked [Italian] Prime Minister [Giorgia Meloni's] office to consider these important issues in relations between Italy and Russia so that our government is aware of the chamber's readiness to participate..." Trani stated.

He cited a similar effort by Robert Agee, head of the American Chamber of Commerce in Russia, who in March submitted a white paper to Washington proposing targeted sanctions relief, particularly in civil aviation. The proposal called for lifting bans on servicing Western aircraft in Russia and supplying spare parts.

Trani voiced strong support for the initiative, calling aviation sanctions "particularly harsh."

"If something happens, the countries that imposed these measures will bear responsibility," he said.

During the interview, Trani also questioned past statements by former Prime Minister Mario Draghi, who had argued that Italy could replace Russian energy imports.

Recalling Draghi's most recent comments that "Italy has no future with today's energy prices," Trani recalled that sanctions on Russian imports that in 2022 triggered a spike in EU gas costs were introduced "when he was in office."

"Why didn't he think of that earlier?" Trani said.

Western countries have imposed widespread sanctions on Russia since the escalation of the Ukraine conflict in 2022, including bans on seaborne oil shipments, financial restrictions, aviation-related measures, and the freezing of about $300 billion in Russian reserves.

The EU has moved to reduce its energy dependence on Russia, once its largest supplier. Despite a sharp drop in volumes, Russia still accounted for around 19% of the bloc's total gas and LNG imports in 2024, delivered via a pipeline through Türkiye and LNG shipments, according to various estimates.

Moscow has repeatedly condemned Western sanctions as illegal and ineffective. President Vladimir Putin has said the West sought to eliminate Russia as a competitor but instead made its economy more resilient.

(RT.com)