Various things.
.
Nero 7.0.0.0 was the first version of V7 and really should never have been released as it was full of bugs.
. Why multi-session for this burn? Multi-sessions usage is the cause of many DVD burn errors.
. Why the 16x burn speed? That's very unlikely to be successful with this poor quality media. However, the burn failure is almost immediate so that's not a contributory factor in this failure I guess.
How come you were able to select 16x when the original Disk Info log only shows 2.4x as the allowed burn speed? 2.4x is often the default for non-recognised media but now you were able to select 16x.
I still think a quality media will have more chance of success than this Ritek c**p.