Renzi says EU cannot return to Cold War footing with Russia

Premier says sanctions not hitting Italian exports too hard

(ANSA) - Milan, May 4 - The European Union must not return to a form of Cold War with Russia over the crisis in Ukraine, Premier Matteo Renzi said Monday.
    "On the one hand, it is clear that Russia must respect the Ukraine, on the other hand, we can not think that Europe returns to a climate similar to that of the Cold War," Renzi said in comments at the Milan stock exchange.
    He also said that sanctions imposed on Russia over its role in the civil war that continues to rage in Ukraine have affected Italian exports but not to a very large degree. Italy-Russian trade is worth a total of about 25 billion euros, with Italy running a trade deficit, said Renzi.
    "The sanctions have not been particularly relevant," he said.
    The drop in oil prices and impact on producers and processors has been more damaging, he added.
    The European Union and the United States have imposed sanctions against Russia over the Ukranian crisis.
   

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