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G8 Russian Summit - Beginning of New Era?
Feb 10, 2006 - Linknet Finance News G8 Russian Summit - Beginning of New Era? Feb 10, 2006 - Linknet Finance News - Finance Ministers from the G8 are about to kick off two days of discussions in Moscow. The focus will be the Kremlin's growing clout in world oil and gas markets.== Commercial Loans - No Banks Required == This is Russia's first time as chair of the group meetings. With growing energy concerns, shifting patterns of power, and rapid growth of China, India, and other expanding economies, this is perhaps the beginning of a new era. The diverse agenda will include talk about world trade, debt relief for poor countries, fighting infectious diseases and terror financing. Along with its other G8 partners —- Britain, Canada, France, Germany, Italy, Japan and the United States —- Russia has invited Brazil, China, India and South Africa, recognizing their rapidly growing clout in financial circles. Russia has singled out "global energy security" as the focus for discussion at these meetings, and, in fact for its entire G8 presidency. Russia's primary objective is to promote itself as a dependable energy partner with huge reserves, in a time when Middle East volatility is rising. Its recent dispute with Ukraine over gas prices did not help bolster its image of dependability. That dispute disrupted supplies to other European clients downstream when Ukraine temporarily turned off the pipeline taps. Another concern is Russia's reassertion of state control over energy resources. This move links the dependability of Russian energy supply to the politics of the day. This is normally seen by western global customers as an attempt to create levers for furthering the supplier state's political agenda. Given the current state of oil supply in the world, Russia is unlikely to be bullied on this matter. This is especially the case if emerging giants like China and India are sympathetic to attempts to break Western control over oil supply. Promote your online business | Make Money with Business Opportunity
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