U.S. to recognize Russia as a country with market economy

The US President is planning to personally inform his Russian counterpart of United States' intention to recognise Russia as a country with market economy.

On Friday, Western media cited a high-ranking source in the US administration as saying that Bush administration was considering the possibility of recognising Russia as a country with market economy, and would announce the result in June.

According to media reports, Bush, who is currently visiting Moscow, is going to personally inform Vladimir Putin of this.

The decision concerning the status of Russian economy is wholly a prerogative of the US administration, specifically of the US Department of Commerce, and does not have to be approved by the US Congress.

It will be recalled that America's leading steel companies object the administration's intention to recognise Russia as a country with market economy.

In the meantime, Moscow hopes that the visiting US president will somehow announce the decision concerning the status of Russia's economy, which Moscow regards as a matter of principle.