Medvedev: U.S. dominance is over

Russian President Dmitry Medvedev has said that the era of U.S. global economic dominance is over, the BBC reports.

Izvor: BBC

Thursday, 02.10.2008.

12:52

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Russian President Dmitry Medvedev has said that the era of U.S. global economic dominance is over, the BBC reports. Speaking after talks with German Chancellor Angela Merkel in St. Petersburg, Medvedev said the world needed a "more just" financial system. Medvedev: U.S. dominance is over Merkel's visit is seen as an attempt to ease tensions between Moscow and the West over the war in Georgia. Germany is seen as Russia's close ally in Europe but Merkel has criticized Moscow's actions in Georgia in August. However, she has urged the West to maintain a dialogue with the Kremlin. The talks come a day after European Union observers began patrolling in Georgia to oversee a withdrawal of Russian forces from "buffer zones" around Georgia's breakaway regions of South Ossetia and Abkhazia. Russia has kept troops there since ousting Georgian forces in August. It has promised to complete its troop pull-out by 10 October, but it plans to keep thousands of troops in the breakaway regions. In St. Petersburg, Merkel and Medvedev were also expected to discuss how to boost growing bilateral trade. The Russians want German technology, while the Germans seek access to Russian markets, the BBC's Steve Rosenberg in Berlin says. Some 40 percent of the natural gas Germany imports comes from Russia, and the two countries are now building a pipeline under the Baltic Sea to bring Siberian gas to Europe. Many German business leaders believe their future depends on good relations with Russia, our correspondent says. He says Berlin does not want its good links with Moscow to be broken now by a new stand-off.

Medvedev: U.S. dominance is over

Merkel's visit is seen as an attempt to ease tensions between Moscow and the West over the war in Georgia.

Germany is seen as Russia's close ally in Europe but Merkel has criticized Moscow's actions in Georgia in August.

However, she has urged the West to maintain a dialogue with the Kremlin.

The talks come a day after European Union observers began patrolling in Georgia to oversee a withdrawal of Russian forces from "buffer zones" around Georgia's breakaway regions of South Ossetia and Abkhazia.

Russia has kept troops there since ousting Georgian forces in August. It has promised to complete its troop pull-out by 10 October, but it plans to keep thousands of troops in the breakaway regions.

In St. Petersburg, Merkel and Medvedev were also expected to discuss how to boost growing bilateral trade.

The Russians want German technology, while the Germans seek access to Russian markets, the BBC's Steve Rosenberg in Berlin says.

Some 40 percent of the natural gas Germany imports comes from Russia, and the two countries are now building a pipeline under the Baltic Sea to bring Siberian gas to Europe.

Many German business leaders believe their future depends on good relations with Russia, our correspondent says.

He says Berlin does not want its good links with Moscow to be broken now by a new stand-off.

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