Russia not to become donor of Iraq

At the international donor conference on Iraqi restoration, to be held in Madrid, Spain, on October 23 and 24, Russia is going to confirm it is ready to contribute to the Iraqi economic recovery within experience and traditions of bilateral cooperation with this country. "We view Iraqi economic restoration within a general restoration of this country. We believe, as stated in the joint Russian, German and French declaration of October 16, that there are currently no conditions for taking on financial obligations," the information and press department of the Russian Foreign Ministry reported, referring to Alexander Yakovenko, the ministry's spokesman. "Therefore, Russia is not going to announce its donor contribution at a meeting in Madrid," he was quoted as saying.

The information and press department said there were other possibilities to render aid in Iraqi restoration. It believes the largest benefit could be brought by Russian organizations continuing to work in oil production, electricity generation, water supplies, transport and other sectors in Iraq. In the event Iraq confirms agreements that were signed with Russian companies earlier, these companies will be ready to invest significant funds in large projects in Iraq.

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