ROME, February 26. /TASS/: The active anti-Russian sanctions, imposed in 2014, reduced European exports to Russia by over 22%, according to information, provided by the Confartigianato association of Italian small and medium businesses.
"Economic sanctions against caused European exports to this country to shrink by 22.2%; Italy was affected the most (minus 28.5%)," the association noted. "In eight years, our losses on the Russian market amount to €24.7 billion, or about €3 billion per year."
According to the association, fashion and machine-building industry were affected the most.
The "unavoidable new sanctions" over the event in Ukraine "will also seriously affect the Italian business," the association added.
