Russia does not pay, only companies in Fermo – Economy

Russia does not pay, only companies in Fermo – Economy

Fermo, April 21, 2022 – The sanctions decided against Russia are causing considerable damage also to the footwear district of Fermão. “The most important problem at the moment is – according to Arturo Venanzi regent president of Confindustria Fermo – non-payment of orders and delivered goods. And that’s because Italian banks no longer work with Russia after the expulsion of the Swift system and also by choice. “A damage that is difficult to quantify, but that would be around in several hundred thousand euros. The proposal of the Fermo shoe manufacturers to all parliamentarians is that measures be taken in the interpretation of sanctions. “There has to be a margin to get the payments. But for that, government intervention is needed. According to our politicians, is there the possibility, the will? It’s necessary to understand that blocking payments for fashion and manufacturing products is not only the Russian harmed, but also the businessman who worked. Technically – reiterates Venanzi – our money is stalling”. Confindustria Nazionale and Assocalzaturifici are working to find a shared solution that protects international principles and does not undermine the know-how of a unique district.

“They exist 50 companies from the district of Fermo-Macerata registered with Obuv, the moscow fair scheduled from 26 to 29 april. But if they sell, then how do they pay for them? Venanzi reiterates, warning: “We need clarification quickly. Conflict brings pain and death. Our response, like the West, was sanctions. We chose to hit Russia economically. But we must be careful, because any rule if not well written can cause unpredictable damage.”

the appeals launched by the Confindustria system prevent politicians from taking into account data concerning them the weight that Russia has for the footwear district of Fermo: “Russia, remember, as the fashion sector is a key market. It is true that at a regional level the percentage of exports seems marginal (3-5%), but for the province of Fermo reaches 40%. A turnover of 90% is guaranteed by footwear and accessories, from bags to components. Among other things, these data do not take into account the triangulations that concern other countries where the goods go directly to Russia”.

exports of shoes since Fermo shoe district after the record set in 2015 when sales reached 845,749 euros in the following years, they suffered a considerable drop to reach 482,802 in 2020, a year strongly influenced by covid. At the end of 2021, there was an increase that allowed exports to reach 500,037 euros thanks also to a recovery in sales to Russia, but now the ongoing war risks jeopardizing everything. In the footwear sector there are companies that have 80% of their turnover linked to the Russian and Ukrainian market.