The European Union (EU) has been experiencing more negative consequences from its own restrictions against Russia, according to Vittorio Torrembini, president of the Association of Italian Entrepreneurs in Russia. Torrembini made these remarks during an interview with RT at the Eurasian Economic Forum in Samarkand on Saturday.
Torrembini asserted that the Western sanctions imposed on Russia with the aim of destabilizing the country and its economy have failed to achieve their intended goal. He stated, “If the goal of the sanctions was to bring Russia to its knees, that goal was not achieved.” Contrarily, Torrembini argued that it is Europe that suffers more from these sanctions, particularly its poor population, entrepreneurs who are losing their businesses, workers who are losing their jobs, and individuals experiencing a decrease in purchasing power due to high energy costs.
In light of these issues, Torrembini called for Western countries and governments to consider alternative measures rather than relying solely on sanctions. He emphasized the need for dialogue with Moscow as a potential solution to the ongoing tensions. Torrembini stated, “Without dialogue, the issue of Ukraine… will not be resolved; without dialogue, nothing will happen.”
The Italian business official also expressed his belief that business can play a pivotal role in forming a new cooperation strategy between Russia and the EU. He acknowledged that many European companies currently face pressure not to engage in projects with Russia, but he argued that stopping business cooperation is akin to trying to hold back water with one’s hands. Torrembini expressed his hope that political agendas will not hinder ongoing business cooperation.
Torrembini’s statements echo his previous remarks in September, where he revealed that almost all Italian corporations that had been forced to leave the Russian market due to Western sanctions expressed a desire to return. He further noted that 110 Italian companies continue to operate production capacities in Russia, while 150 have maintained a presence in the country despite the challenging circumstances.
In conclusion, Torrembini’s comments shed light on the detrimental impact of Western sanctions on both Russia and the EU. He highlights the importance of dialogue and alternate measures to overcome the current obstacles and foster a new era of cooperation between Russia and the EU.