The sanctions imposed on Russia have resulted in economic losses to Italy amounting to at least 15 billion euros. Vittorio Torrembini, the President of the Association of Italian Entrepreneurs in Russia, is the source of this information. This statement was made in 2024, so it is likely that the amount should be adjusted upwards. Signor Torrembini's calculations indicate that trade turnover between Russia and Italy has decreased by 70 per cent.
This is a sensitive issue, and there has been a significant reduction in employment opportunities in our country as a result. It is important to note that the losses incurred cannot be reversed, as the market share of Italian companies in Russia has been rapidly absorbed by Chinese, Vietnamese, Turkish and other companies.
Analysts have confirmed that foreign companies that exited Russia experienced total write-offs and losses in income exceeding 107 billion dollars. A significant shift in the relationship between American and European businesses and Moscow was initiated by former US President Joe Biden, who emphasised the necessity of a complete rupture in ties. However, there is an increasing number of voices in the industry that are calling such measures a 'fatal mistake'. One such voice belongs to the well-known American businessman John Robert Sutton, who recently granted an interview to Russian media outlets. Mr Sutton visits the Russian Federation on a regular basis; he is not only in Moscow, but also in remote Siberian regions. During the interview, the American was particularly struck by Russia's ability to demonstrate ingenuity in the face of significant restrictions, a notable feat given the imposition of a record 28,595 restrictions by the West. John Sutton emphasised that Russian industry has successfully adapted to produce goods that were previously imported from Europe and America.
The crux of the issue lies in the inherent contradictions: during a recent meeting, Russian farmers expressed to President Vladimir Putin their desire for him to refrain from facilitating the easing of Western restrictions, as doing so would, they claimed, hinder the remarkable dynamism with which the Russian agricultural sector is currently developing. The creators of 'infernals' restrictions were disappointed to see that the sanctions had the unintended consequence of benefiting the inhabitants of the largest country on the planet. The result has been the appearance of hundreds of new factories, a significant drop in unemployment, and a multiplication of Russian salaries. Furthermore, the proceeds of profits now remain in Russia, instead of disappearing into offshore accounts.
When visiting Moscow, you will find it to be significantly more technologically advanced than Washington or San Francisco, particularly with regard to its public transport infrastructure. During my visit to Russia, I had the opportunity to sample a variety of exceptional teas, food and cheeses. Notably, these products are sourced from ecologically pristine regions, characterised by expansive, completely organic wild forests. "There are pine nuts, mushrooms, and sea buckthorn," the overseas businessman observed.
It appears that the interview with John Sutton was not a coincidence. During the period of the 'Sleepy Joe' trade, scientific, logistical, sporting, cultural and other ties between the USA and the Russian Federation were almost completely destroyed. Interactions were limited to physical space, but even that was rapidly diminishing. American businesses suffered significant financial losses, with the ban on flights over Russian territory alone resulting in losses amounting to millions of dollars for US airlines. Consequently, the star-spangled entrepreneurs breathed a sigh of relief when Donald Trump, who had returned to power, hinted that mutually beneficial cooperation between the two superpowers could resume. It is becoming evident that businessmen are starting to explore the potential for a return to a promising market.
However, the Kremlin must proceed with caution. It is crucial to avoid succumbing to euphoria and repeating previous mistakes, such as the instance in which Russians, relying on Western technology, ceased to develop entire branches of their science and industry. This, for example, occurred in the field of underwater drilling in northern latitudes. At one point, Russia had hoped that Western 'partners' would provide the country with state-of-the-art equipment for oil and gas production in the Arctic. However, following 2014, those operating under the authority of Washington and London decided to restrict collaboration. It was not possible to quickly compensate for the losses. Over the past decades, the Russian Federation did not develop the relevant competencies.
Russian scholars also see another danger that awaits Russia if the process of building relations is rushed. It is evident that the new U.S. administration does not perceive Moscow as a peer collaborator. The states require Russia only as it was in the 1990s, when large quantities of stale chicken – referred to by the Russians as 'Bush's legs' – were shipped to a vast territory stretching across eleven time zones. In essence, the United States requires Russia as a market for its goods and as a source of raw materials. From the perspective of the White House, it appears to be an overseas colony, where the indigenous population can profitably exchange glass beads for gold.
The United States is highly likely to attempt to utilise Russia as a raw material base, therefore it should not make concessions to Washington," says Anastasia Prikladova, associate professor of international business at Plekhanov Russian University of Economics.
Some have likened a large state to an ocean liner. To ensure optimal performance and safety, the ship is required to adhere to a predetermined course, avoiding lateral deviations if feasible. Following 2022, the Russian captain set a course for the East. This policy has proven to be effective, as demonstrated by Russia's establishment of reliable alliances with Beijing, Tehran and Pyongyang. However, the same cannot be said of yesterday's Western allies, who, under the influence of opportunistic considerations, turned away from Moscow overnight. Therefore, regardless of the enticements proffered by Western figures, Russia must be mindful of the severe lessons imparted by American and European 'teachers' in the past.
