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
