• Wednesday, 16 May, 2012

Medvedev repeats vows

 07 November 2008 00:01 GMT

Russian President Dmitry Medvedev has reiterated the plans of his predecessor Vladimir Putin to make Russia a global financial centre, and sell oil and gas for rubles rather than dollars, in his first state-of-the-nation address this week, writes Vladimir Afanasiev.

Speaking to members of the upper and lower chambers of the Russian parliament, as well as members of the government, headed by Prime Minister Putin, Medvedev confirmed that Russia will continue its efforts to integrate with the world's economy.

However, Russia also has its own demands of the outside world. Medvedev said again that the country's oil and gas should be sold to other nations for rubles rather than US dollars.

He said the ultimate goal is for the ruble to become one of the world's acceptable currencies.

Medvedev also voiced another old Kremlin ambition to make Russia one of the world's "largest financial centres".

Medvedev used hard rhetoric against the US administration, claiming it had "inflated a financial bubble", thereby harming other countries.

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