Moscow ready to invest in euro, says Russian president

Moscow ready to invest in euro, says Russian president

Moscow ready to invest in euro, says Russian president

European Council President Van Rompuy (R) looks at Russia’s President Medvedev as they address the media at the European Council building in Brussels. AP photo

President Dmitry Medvedev yesterday said Russia will invest “the necessary financial means” to help stabilize the European Union and the eurozone countries.

Speaking after an EU-Russia summit Thursday, Medvedev said Russia would also consider other measures of support. He didn’t elaborate. Russian officials had said the country would offer up to 10 billion dollars, but Arkady Dvorkovich, a Medvedev economic adviser, indicated yesterday the total may be higher.

Medvedev said Russia has an economic stake in the EU, where a debt crisis is dragging down some national economies and the 17-nation eurozone. He said 41 percent of Russia’s foreign exchange reserves are denominated in euros.”We have advantageous ties, and for us united Europe is very important,” Medvedev said.

EU ‘concerned’ over Russia elections

EU president Herman Van Rompuy on Thursday said the bloc was “concerned” by voting irregularities and lack of fairness in Russia’s recent elections. Speaking at the close of an EU-Russia summit with President Dmitry Medvedev, Van Rompuy said “we had an honest discussion” on the conduct of the Duma elections last week. “We welcome the fact that 500 election observers were invited” to the Russian parliamentary elections on December 4, Van Rompuy said at a press conference where he spoke side by side with Medvedev and European Commission president Jose Manuel Barroso. “We are concerned by irregularities and lack of fairness” as reported by observers and parts of the Russian public, he added. “And we are concerned by the detention of protesters. “In contrast the recent large demonstrations were peaceful and the authorities in my view handled it very well,” he added. Van Rompuy said the EU in consequence welcomed a commitment by Medvedev “to investigate in a fair and impartial manner reports about electoral problems.”

Compiled from AFP and AP stories by the Daily News staff.