The head of the Central Bank of Italy is confident that the country will withstand the consequences of sanctions against Russia

Inazio Visco believes that recession in Italy is unlikely.

The Governor of the Bank of Italy, Ignazio Visco, believes that the country is able to withstand the consequences of the introduction of anti-Russian sanctions because of the conflict in Ukraine.

“Certainly Italy is capable of withstanding the sanctions,” he said Saturday on TG3 television. – I believe that we can keep our composure, paying special attention to the weaker segments of the population that will be affected the most.”

A recession in Italy is unlikely, says Visco. “The conflict in Ukraine is serious, but it is limited and not on the global scale that the 2009 financial crisis or the pandemic was,” he said.

The head of the Central Bank estimates that oil and gas prices will remain high in the coming months, but that they will fall in the second half of the year.