Russia doesn't agree with EU's demand to immediately introduce world prices in power industry

Russian President Vladimir Putin said that Russia would not agree with the demand of the European Union to immediately introduce the world prices in the power industry.

During the discussion at the meeting of businessmen of Russia and Germany in Yekaterinburg (the regional center in the Urals Federal District), the President drew the attention of the German representatives to the fact that one of the main obstacles for Russia's entry into the World Trade Organization is the negotiations with the European Union.

The Russian leader supposed that "the representatives of German business are interested in Russia's entering the WTO as soon as possible." However, energy problems are the main obstacle in this matter. "I believe that the German economy is interested in working with cheap energy sources," said the President of Russia.

"The second question is the question of a macroeconomic stability," continued Putin. "The Russian economy derives from the Soviet economy which unfortunately developed as a costly economy. We cannot introduce world prices in the power industry overnight. Otherwise, the Russian economy would come tumbling down." "The bureaucrats in the European Union either do not understand this or want to hamper Russia's entry into the WTO. Why do they do it?" asked the President of Russia.

"We understand that time would come when we shall have to introduce the world prices, but this should be done stage by stage. And this should be done not in the context of entering the WTO, but within the framework of our negotiations with the European Union," underscored the Russian President.

He qualified the position of "bureaucrats from the European Union" as "arm twisting." However, remarked the head of the Russian state, "the arms" of Russia are becoming stronger and stronger. "And even such strong partners as ones in the European Union cannot twist them." Vladimir Putin called upon the representatives of the German economy to influence the bureaucrats in the European Union.