Sanctions Against Russia Failed - Head Of Italian-Russian Chamber Of Commerce

MOSCOW (UrduPoint News / Sputnik - 09th June, 2021) Sanctions against Russia, imposed by the Western countries, have failed, Vincenzo Trani, the president of the Italian-Russian Chamber of Commerce (CCIR), told Sputnik.

"I think Russia has proven during these seven years that the sanctions have not worked. If you look at the state of affairs today and seven years ago, you will see that Russia is back to the level before the sanctions," Trani said during the St. Petersburg International Economic Forum (SPIEF).

The head of the chamber of commerce added that Moscow reacted very quickly to the threat of sanctions and was able to develop the agriculture sector over time.

According to Trani, the import substitution program was a "right medicine" for the Russian economy, and sanctions even boosted the development process.

At the same time, the president of the Italian-Russian Chamber of Commerce proposed to hold a dialogue with Russia instead of imposing sanctions.

"Since the sanctions have not brought any result, everyone can see this, I think today we can look at a different approach to solving such problems. The approach of dialogue, first of all," Trani said.

SPIEF-2021 was held from June 2-5 in the Russian city of St.Petersburg. The Rossiya Segodnya international information agency was an official media partner of the event.