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Putin says Russia is reliable energy supplier

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NOVO-OGARYOVO, June 2 (RIA Novosti) - President Vladimir Putin rejected criticism Friday that Russia was an allegedly unreliable energy supplier.

"We regard an attempt to discuss these issues as a way to prompt us to make unilateral decisions that would satisfy our partners and would not comply with Russia's economic interests. This is a means of competitive struggle," Putin told a meeting with heads of G8 news agencies.

He also proposed that foreign partners seek solutions that would increase trust and boost energy cooperation in the light of controversy that has surrounded Russia since energy giant Gazprom cut off gas supplies to Ukraine in January.

U.S. Vice President Dick Cheney accused Russia in May of using its energy resources to blackmail neighboring nations.

But Putin defended Russia's position. "We are not imposing anything," he said. "We have resources and offer them and you need them."

Echoing statements made by other officials, including aide Igor Shuvalov who said the accusations had only emerged after the Ukraine incident, the president also said Russia and its companies would honor their commitments.

"We will fulfill our obligations and develop cooperation," he said.

Putin also said Russia could stop being dependent on world oil prices.

He said Russia's budget was calculated given the oil price of $27 per barrel, whereas current oil prices are around $70.

Putin said the government had a plan of innovative economic measures, including changes in severance tax, creation of special economic zone with a special taxation order and establishment of a venture fund.

"If this [plan] is a success, changes on world energy markets will not affect Russia's economy," Putin said.

"We decided to set up an investment fund to attract private capital in the infrastructure where we are planning to establish state-private partnership," he said, and added that all these measures would give the Russian economy and innovative character.

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