In 2013, bilateral trade between Russia and Italy reached record levels of about USD 52 billion, with mutual direct investment topping USD 3.4 billion soon to be complemented by an RDIFItalian joint development fund of USD 1 billion. While sanctions have resulted in a 10% dip in trade turnover in 2014, it remains on a strong footing, with over 500 Italian companies operating in Russia, and Italy maintaining its position as the second largest European market for Russian exports. In the midst of geopolitical tensions, what practical steps can businesses and policymakers take to further stimulate bilateral economic activity? Is there a role for business to create an improved atmosphere for political dialogue between the two countries? What sectors hold the most potential for expanding economic ties?