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Putin welcomes Russia-EU energy integration
RBC, 04.12.2008, Moscow 14:31:18.Russia is happy to see European investment in Russia's energy resources, Prime Minister Vladimir Putin said during his live question-and-answer session broadcast by national TV channels and radio stations. "A great number of European - Finnish, Italian, German - corporations have bought into our energy companies, investing literally billions of dollars and euros, and we welcome such investments," Putin said. According to the prime minister, Europe has returned to constructive energy cooperation with Russia in response to Russia's move to admit European companies to hydrocarbon production. Specifically, Europe supported the Nord Stream and South Stream projects, allowing Russia to be part of its backbone energy transportation system. Putin described it as a good example of integration, adding that such joint efforts would "enhance transparency, reliability, and stability of both Russian and European economies." With Europe claiming 53 percent of Russia's trade, Russia is set to continue with such policies, Putin stressed. Meanwhile, Russia-EU relations, especially with regard to new EU members, are still being aggravated by "phobias" from the past. Putin, however, believes that in a while the countries will realize that they must look to the future and not cling to the past.
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