Russian President Vladimir Putin (2nd L) inspects the exposition of the Republic of Tatarstan as he visits the Russia pavilion at the Expo 2015 global fair in Milan, northern Italy, June 10, 2015. [Photo/Agencies]

Earlier this year, the EU said the sanctions would not be lifted unless the Minsk agreement was fully implemented.

The reported violations of the Minsk ceasefire agreement on the Ukraine crisis reached late February cast shadows on the relationship between the EU and Russia.

Pressure was revved up on Russia at this year's Group of Seven (G7) summit which was held on Sunday and Monday in Germany.

"Russia has no relations with the G7, a club of interests," Putin told the press conference. Russia is developing ties with single countries or other organizations, he pointed out.

Russia became the eighth member of the industrialized countries' club called G8 in 1998. The seven countries boycotted the proposed G8 summit scheduled to be held in Sochi of Russia in June last year.

Renzi told the press conference that implementation of the Minsk agreement is the only way out of the Ukraine crisis.

"The true question today is about the Minsk agreement ... Once it is implemented, the phase of tensions, debate and sanctions will be overcome," he said.

"I believe it is an objective truth to say that in such a complex international scenario, Russia must be in the front line along with Europe, along with the United States, along with all people of good will to face the global challenges," Renzi went on saying.

The meeting in Milan between Renzi and Putin was the second this year after the visit of Renzi to Moscow on March 5. Later on Wednesday, Putin will meet Italian President Sergio Mattarella in Rome.