Putin plans to increase trade with EU to $500 billion

In a few years, Russia and the European Union will be able to enter a new level of trade, increasing it by nearly $100 billion, Russian President Vladimir Putin told European Commission President Jose Manuel Barroso.

According to Putin, trade and economic operations between Russia and the EU could reach $500 billion in the coming years. The president stressed out that the European Union was one of the largest partners of Russia in the economic sphere.

In turn, Mr. Barroso said that Russia was also a major partner for the EU and took the third place in commerce, following the U.S. and China.