Russian companies may invest in Iraq

Moscow is prepared to join Russian companies in investment projects in Iraq, Russian Deputy Foreign Minister Yuri Fedotov stated on Thursday at the meeting with U.S. Assistant Secretary of State William Burns.

The diplomats' meeting was held in Madrid as part of the International Donors' Conference.

"Readiness to join Russian companies to implement large-scale investment projects in Iraq was expressed by the Russian side. William Burns understood this position," the Foreign Ministry officials said.

"Both sides stressed that resolution 1511 adopted by the UN Security Council on October 16, opens up additional opportunities to intensify the process of political stabilisation and have the international community take a more active role in the economic and humanitarian rehabilitation of this country," a report from the Russian Foreign Ministry reads.

"As Yuri Fedotov stressed, resolution 1511 will not lead to a real change of the situation if the UN does not participate in the rehabilitation of Iraq's sovereignty," Russian foreign policy agency officials said.

At the meeting, Russia and the USA also discussed co-ordinated actions in the Middle East.