‘ Agricultural Sector Losses Due to Russian Sanctions Will Reach 200 Million Euro’s ‘

#AceFinanceNews – ROME – September 23 – The losses of the Italian agricultural sector as a result of Russian counter-sanctions in response to Western punitive measures against Moscow for developments in Ukraine will total €200 million annually, experts from the Coldiretti association uniting representatives of the sector said Tuesday.

With the ban on imports to the territory of the Russian Federation of a number of food products — vegetables and fruits, cheeses, meat and sausage products, as well as fish, Italy will lose about €200 million a year,” Coldiretti said.

Besides direct losses, the industry will also sustain indirect losses, experts said.

In particular, the association is afraid that products imitating Italian will land on the Russian market, which will harm the reputation of Italian products.

Not to mention the fact that Italian suppliers will be ousted from the Russian market, which is considered one of the most promising and fast growing.

Italian Agriculture Minister Maurizio Martina is pushing for the unblocking of European Union funds due to be allocated to support farmers affected by Russia’s counter-sanctions.

Ways to overcome the crisis and compensate for the losses to European agriculture will be considered at an informal meeting of EU specialized ministers to be held in Milan on September 28-30 as part of Italy’s presidency of the European Union.

Reported by . /ITAR-TASS/.

#AFN2014

#cheeses, #counter-sanctions, #eu, #european-union, #fish, #fruits, #italy, #milan, #rome, #russia, #russian, #vegetables

` Italian Authorities Grant Refugee Status to Wife of ' Mukhtar Ablyazov ' Who is on Interpol's Wanted List '

#AceFinanceNews – ROME – April 19 – The Italian authorities have granted the refugee status to the wife of Kazkhstan’s big business tycoon Mukhtar Ablyazov – Alma Shalabayeva – and her under-age daughter.

The decision was made by a special commission for international protection under the country’s Interior Ministry.

Shalabayeva and her little daughter were expelled from Italy on the 30th of last May after police held an operation at a villa near Rome in an attempt to arrest Ablyazov, whose name features on Interpol’s wanted list.

He is wanted in Kazakhstan, Russia and Ukraine for gross embezzlement.

#AFN2014

#interpol, #italian, #kazakhstan, #rome, #russia, #ukraine

` Pope Francis rules that the ` Vatican Bank ‘ will remain `Operational ‘ with Approved Recommendations ‘

#AceFinanceNews – ROME – APRIL 07 – Pope Francis has decided that the troubled Vatican Bank will remain operational and he has approved recommendations for its future, the Vatican said on Monday.

The bank “will continue to serve with prudence and provide specialized financial services to the Catholic Church worldwide,” Reuters reported, citing a Vatican statement.

Until now the Pope had not ruled out closing the bank.

Decades of Scandals:

Report by Aljazeera – October 02 2013 – The Vatican bank, dogged for decades by scandals and opaque dealings, has published the first annual report in its 125-year history.

The report covered 2012, a tumultuous year that saw the bank’s former president ousted in a boardroom battle and leaks of documents on internal disagreements on how it should be run.

Bank President Ernst Von Freyberg, who started his job this year, said the 100-page report released on Tuesday was an attempt to meet the commitment to transparency that Catholics around the world “rightfully expect”.

A five-member committee appointed by Pope Francis, who has promised to clean up the Vatican’s financial image, is also preparing a report on how to reform the bank, officially known as the Institute for Works of Religion (IOR).

The IOR said that in 2012 it had a net profit of $117m, more than four times greater than the $27m profit in 2011.

It when onto say the institution, however, has been enmeshed in scandals in the past three decades, most notably in 1982 when it was caught up in the fraudulent bankruptcy of Italy’s Banco Ambrosiano, whose president Roberto Calvi was found hanged under a bridge in London.

More recently, it has been caught up in an investigation by Italian magistrates into Money laundering, which the bank denies, and the arrest of a Vatican prelate who has been charged with money smuggling.

Pope Francis has not excluded the possibility of closing down the IOR but most likely it will soon see extensive reform.

#AFN2014

#catholic-church, #london, #money-laundering, #pope-francis, #rome, #vatican, #vatican-bank

` Italy will Close ` Four Embassies ‘ and Abolish Post of UNESCO Representative to Cut State Expenditure ‘

#AceFinanceNews – ROME – April 04 – Italy will close four embassies and abolish a post of its representative in UNESCO as part of a program to curtail state expenditure, RIA Novosti reported.

Its embassies in Honduras, Iceland, the Dominican Republic and Mauritania will be closed.

#AFN2014

#italy, #rome, #unesco