Italian farmers can lose more than 700 million euros as a result of introduction of the Russian embargo on delivery of certain types of agricultural products, raw materials and food, reports RIA Novosti with reference to the website of a leading Association of agricultural producers Italy Coldiretti.

"The Italian export products to Russia, despite the existing tensions in the first quarter of 2014 increased by 1%. Last year saw a record indicator in 706 million euros, which this year was under threat after the announcement of sanctions", - said Coldiretti.

The organization notes that in 2013, Italy has put to Russia fruit to 72 million euros, meat 61 million euros, cheeses and molochai production - by 45 million euros.

Some companies have already felt the damage from the embargo. Thus, the contract was terminated with companies Fruit Modena Group, which was sent to Russia pears.

"Now we are faced with a trade war, which confirms the strategic importance of food especially in periods of economic downturn. Russia by its actions struck on agriculture, because they know that agriculture is the element of growth for the EU in the period of stagnation", - noted the President Coldiretti Roberto Moncalvo, whose words are cited on the website of the Association.