“It’s just a challenge,” said Anthony Brugato, the store’s owner. “I want to get people talking about what’s going on. There are few leaders who make decisions that have an impact on millions. This is crazy.” While Brucato said he was critical of Russia’s invasion of its southern neighbor, he acknowledged that his showcase could be seen as a mixed message. He is not alone. The Italian government stands unequivocally with the other EU nations in opposition to Russia’s war in Ukraine. Italy has imposed sanctions on the Russian economy, cut off trade with its banks and called for a negotiated settlement. Polls show that between 80 and 90% of Italians support the government’s stance, according to polling company Opinioni, a number that could be higher as figures for Russian atrocities in the Ukrainian city of Bukha come to light. However, the country continues to rely heavily on Russian gas imports, although Italian Prime Minister Mario Draghi has categorically refused to pay for the gas in rubles – a move to a geopolitical chess game inspired by the yellow signal. of Brocato. Analysts say the absence of Russian imports of Italian products and Russian visitors could threaten to derail Italy’s fragile economic recovery after the pandemic. At the end of March, the Economist Intelligence Unit cut its estimates for economic growth across the EU, but said Italy would be hit hardest, with growth slowing to 3.4% this year from a previous estimate of 4.4% due to trade with Russia and secondary effects such as rising fuel costs and supply chain issues. This was in line with the Italian National Institute of Statistics, which said last week that further downward adjustments could be made if the war continued. On Tuesday, Micaela Pallini, president of the Federvini wine sector association, said the war in Ukraine could have “irreversible long-term consequences” for Italian winemakers. He said the disaster and the humanitarian crisis remained the main concerns in Ukraine, but also noted that Italy was the top wine supplier to Ukraine and Russia, with combined sales of around € 400 million (5 335 million) last year, around 6% of Italy. wine exports. This will decrease dramatically this year. Manufacturers of luxury goods, including clothing, jewelry and accessories, said they expected a similar decline in exports. Forte dei Marmi, a coastal resort serving Russian shoppers and visitors alike, reportedly put plans for expansion in the days following the start of the war. Italy’s tourism sector, which has been plagued by lockdowns and quarantines for the past two years, will be hit even harder, according to Michele Costabile, professor of Business and Management at Luiss University in Rome. He noted that while the Russians barely surpassed the top 20 in terms of the number of visitors to Italy, in terms of time spent in the country it was ninth and when measured by the overall economic impact they were second, behind only Germany. “Traditionally, the average Russian visitor stayed in Italy for five or more days, compared to two or three from most other countries, and spent about 65% more money per day than the average tourist,” Costabile said. “I assure you that the absence of Russian visitors to the sector will be felt.” Marc Antonio Esposito, an employee of a high-quality watch shop in Rome, said the effects of the war were obvious from the start. “The watches we sell start at around € 5,000 and go much higher,” said Esposito. “We had several wealthy Russian clients who hired a Russian-speaking partner. “But I do not think I have seen more than two or three Russians since the beginning of the year.”
