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Kremlin aide: Russia and G7 Finance Ministers need each other

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MOSCOW, June 30 (RIA Novosti) - Russia needs the G7 financial club as much as the G7 needs Russia, a Russian presidential aide said Thursday.

"Russia was admitted to G8 for political considerations," Igor Shuvalov told reporters. "The country's economy was then in a terrible state."

However, he said that a great deal had been done since then. "Everybody now understand that global economic stability is impossible without Russia," he said.

Russia will soon start producing 500 million metric tons of oil a year, and exports will grow, he said.

"Everyone understands that Russia is a reliable partner that provides G8 countries with energy resources, thereby enabling their economies to develop in a stable manner for the next ten years," said Shuvalov.

"Russia in turn needs assistance in its redevelopment and efforts to make its economy independent of energy exports. In this context, the G7 financial club needs us as much as we need them," said the Kremlin aide.

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