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On October 24, 1909, King Victor Emmanuel III of Italy and Nicholas II of Russian Empire concluded an agreement at Racconigi, known as the Racconigi Bargain.

It states that:

  • If Russia or Italy are to conclude agreements concerning the Eastern Europe with another Power in future, the other party of this agreement must also participate in such new agreement.
  • Italy recognizes the Bosphorus should be controlled by Russia while in return Russia recognizes Italian interests in Tripoli and Cyrenaica.

However, Italy and Russian Empire concluded another agreements with Austro-Hungarian Empire a few days later disregarding this agreement.

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