"We will honor all our commitments. And if the need for an increase arises, we will make investment decisions, open new fields and develop them to supply energy to Europe and Asia," the Russian president said at a meeting of the 10th EU-Russia Industrialists' Round Table in Cannes.
Medvedev also proposed reforming the International Monetary Fund and the World Bank to be more able to counter the global financial crisis, and vowed to turn Moscow into a financial center.
"Such serious consequences make us raise the issue of reforming the global financial system and its basic institutions, such as the International Monetary Fund and the World Bank," he said, adding that the financial crisis had inflicted losses totaling $1.5 trillion on the global economy.
The Russian leader said a package of laws to set up an international financial hub in Russia will be adopted by the end of 2008. "A package of laws to set up such a center will be adopted by the year's end," he said.
Speaking about Russia's GDP, Medvedev said it would grow about 7% in 2008.
"We expect GDP growth to be about 7% on yearend results. This result has been achieved first of all through increasing domestic demand," he said.
The Russian president said the government will allocate some $200 billion to bolster the real sector of economy amid the global financial crisis.
The president said subordinated 10-year loans will be offered to shore up the banking system.
"As a result, the banks will have more funds to lend to and support the real sector. The amount will total approximately $200 billion," he said.
Medvedev said the Russian government is committed to lowering administrative barriers to make the country more attractive to investors.
"We will continue ... to fight bureaucracy. We will seek to remove administrative barriers that are still high, and we will work to streamline tax and customs procedures," he told the gathering.
