‘Russia and Italy’s economic relations are totally strategic, which means they are rather long-term ones and based on a very sturdy foundation, including the energy projects. This stable economic cooperation is now moving into a new phase, from the trade to the investment format,’ Russian Minister for Industry and Trade Viktor Khristenko announced at a press conference in Yekaterinburg.

The Minister believes both Russian and Italian partners contribute equally to a number of O&G and the energy sector project in the two countries.

‘One new area where the two parties cooperate is the nuclear power industry. What is more, Russia and Italy are becoming partners in hi-tech businesses like aircraft and helicopter building and telecommunications,’ he said.