Sanctions on Russia are causing major difficulties for small European exporters, particularly with bank payments, according to Ferdinando Pelazzo, President of the Italian-Russian Chamber of Commerce.
Many Italian businesses are struggling to continue working in Russia while abiding by the sanctions regime, with the smallest exporters feeling the brunt of the impact.
The European Central Bank’s restrictions on financial institutions operating in Russia are exacerbating the problem, making it challenging for Italian and European exporters to access payment systems and conduct business.
Italian companies fear persecution for doing business in Russia and are more concerned about threats at home, highlighting the complexities of maintaining trade relations amid political tensions.