Russia is capable of reducing the energy component in its GDP by 50 percent over the next twenty years, Deputy Energy Minister Anatoly Yanovsky announced at a meeting in the Federation Council today. The meeting was devoted to energy savings in Russian regions during energy reforms. He explained that the energy component in the GDP would be reduced through efforts to be made by state authorities as well as organizational and technological measures. According to the official, the Russian energy strategy for the next twenty years is calculated on a possible growth in the GDP by 2.5 times. He stressed that the active development of the fuel and energy sector was necessary to achieve these results. The Deputy Minister noted that the energy saving capacity of Russia was estimated at 400m tons of fuel equivalent, which was 40 percent of overall energy consumption in Russia.
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