In the event Russia's ratings are upgraded to the investment level, by 2004 the inflow of foreign investments will de stable at 15 to 20 percent of the total volume of investments, head of the international activities committee of the Russian Union of Industrialists and Entrepreneurs Mikhail Khodorkovsky, who is also YUKOS head, told journalists. However, according to him, a more important consequence of Russia's investment rating advance is a decline in the cost of loans.
Previously, Khodorkovsky pointed out that Russia's major task was improving its ratings to their investment level by 2004. According to him, the Union commissioned the committee with contributing to the improvement of Russia's business ratings. "Investment ratings will allow Russia to have access to cheap investment resources", the YUKOS CEO said.
US President Joe Biden and Iraqi Prime Minister Mustafa Al Qadimi signed an agreement on July 26 to formally end the USA's military presence in the country by the end of the year