Vladimir Putin Launches Warnings

Apart from addressing the deadly Chechen attack on Russian troops yesterday, Russian president Vladimir Putin launched a serious warning to the United States, stating that his country would halt the implementation of all global trade rules Russia had signed up to now unless the United States administration agreed to support Russia in acceding to the World Trade Organization.

In a meeting with leaders of the International Chamber of Commerce, Putin stated: "If for some reason we don't manage to reach agreement, we will withdraw from those obligations that we have not only approved but which, even before entering the organization, we are already fulfilling".

This threat is all the more important as a G8 foreign ministers meeting is expected to take place next week in Saint Petersburg. If the United States agree to the economic claims made by Russia, then that will mean that Russian membership of the 149-member international economic forum would be assured, plus Russia would have quite a breakthrough piece of news to announce at the G8 summit July 15th-17th.

Some analysts have speculated upon the fact that a deal based on the WTO would also clear the path with regard to giant state-owned oil and gas company Gazprom and the dilemma revolving around its large Shtokman gas field in the Barents Sea. Once the WTO business is clear, some say, Russia, which is deliberately waiting for that membership promise, would finally open up information regarding the five companies, two US groups among them that would serve as future partners of Russia in the lucrative business.

A senior foreign policy aide of Putin, Sergei Prikhodko insisted that the president's statement should not be taken so seriously, in the sense that Russia would like a deal with US before the summit, yet "it will not be a tragedy if the final deal comes later".