Bad relations between the EU and Moscow have helped cut exports of Italian shoes to Russia by around a fifth, the sector said in a letter to the bloc’s foreign policy chief, urging consideration of economic effects before more sanctions are imposed.
The EU has imposed measures including economic sanctions in response to Moscow’s annexation of Ukraine’s Crimea region in March and the months of unrest that have followed. In turn, Russia has taken measures against imports, particularly food.
Footwear has not been specified by either side but Italy’s exports have still been hit by Russian consumers becoming less keen on pricy …read more
Source: Voice of America
