Russia's Vladimir Putin is pointing out what Europe has missed out on with sanctions in a meeting with Italy's Renzi

  • G7 is not an organisation, it's a club for shared interest
  • Russia has no relations with G7
  • Sanctions damage Russian and Italian relations
  • Italian companies missed out on €1bn in defence deals
  • We are ready to talk to G7 countries one-on-one
  • One will need to drop sanctions sooner or later