Energy News

Putin calls for clear rules on energy sector market access

Jun 13, 2006, 15:39 GMT

Moscow - President Vladimir Putin on Tuesday called for the introduction of clear regulations in order to resolve differences between Russian and the European Union over access to energy markets.

'We want our economy to be as open and transparent as possible,' said Putin, adding that restrictions on foreign investors in Russia, recently introduced due to security concerns, must be clear and comprehensible. Other countries should at the same time introduce equally clear rules for Russian investors, Putin said.

The Russian leader was attending the opening ceremony of the 10th St Petersburg Economic Forum. The three-day forum will see politicians and business leaders from Europe, Russia and beyond discuss a variety of issues including emerging markets in Russia, India, China and Brazil.

Putin was during the forum to hold a series of bilateral meetings including with the presidents of Finland and Georgia, and the prime minister of Serbia. He was also to meet senior business executives from companies such as Forbes, General Motors and Nissan. The Japanese carmaker was additionally scheduled to ink a contract Tuesday over the construction of a Russian assembly facility.