Medvedev questions U.S. role in global economy

Russia's president said on Saturday that the role the U.S. has taken on in the world economy does not correspond to its true capabilities which was a major factor in the current global financial crisis, reported RIA Novosti.

"No matter how big the American market or how reliable its financial system may be, they are unable to substitute global commodity and financial markets," Dmitry Medvedev said speaking at an international economic forum in St. Petersburg, an annual event for investors.

"It is an illusion that one country, even the most powerful, can act as a global government. International institutions responsible for global financial policies, the IMF in the first instance, have had virtually no influence over the strategies pursued by market players," he said.

Medvedev, who was sworn in as president last month, said Russia could play a role in tackling the problems facing the global financial and commodities markets and proposed that the country host an international conference to this end. The conference, he said, could evolve into a regular event.

"I propose holding an international conference with the participation of the heads of major financial companies, as well as leading financial analysts," he said.

Medvedev also blamed the economic "egoism" of some countries for the present global financial and food crisises, including the decision by some governments to take protectionist measures in the agricultural sector in response to a rapid growth in world food prices.

The president said an overall growth in global prices, especially for fuel, was due to investors' disappointment in the U.S. dollar and urged the creation of new liquid investment instruments.

Medvedev said Russia would adopt an action plan to turn Moscow into a global financial center and make the ruble a leading regional reserve currency.

Sarkozy said: "The international community is determined to help Lebanon turn the page on political assassinations. The setting up of a special tribunal is making rapid progress. This is an irreversible process and the resolutions of the United Nations Security Council apply to everybody."

Meanwhile the streets of Beirut were decorated with French and Lebanese flags as tight security measures were observed on main roads leading to Beirut airport and the presidential palace in Baabda, east of the capital.

SOCAR Turkey may evaluate operational partnership for Aliaga port terminal
SOCAR Turkey may evaluate operational partnership for Aliaga port terminal
Tethys reveals 9M2020 production results at Upper Aptian on KBD-02 sites
Tethys reveals 9M2020 production results at Upper Aptian on KBD-02 sites
Turkmenistan remains main gas exporter to China
Turkmenistan remains main gas exporter to China
Loading Bars
Latest
Armenia responsible for death of Azerbaijani civilians - Turkish presidential administration
Armenians think shelling of cities will force Azerbaijan to end war - Russian expert
Iran unveils volume of loans issued to Golestan Province
Azerbaijan destroys Armenian troops (VIDEO)
Azerbaijan expands list of settlements banned with entry-exit due to COVID-19
'Reporters Without Borders' condemns Armenian online attacks against French TV reporter
SOCAR Turkey may evaluate operational partnership for Aliaga port terminal
Shelling of residential areas in Barda once again exposes Armenia's terrorist nature - MFA
Uzbekistan expects GDP to grow in 2021
State budget of Georgian Adjara to up in 2021
Turkey says export of domestic mining products to Georgia down
Iran’s Bahar Azadi gold coin price starts to fall
Missile attack on Barda once again proves terrorist essence of Armenia - Turkish MoD
President Ilham Aliyev: Blood of Barda residents will not remain unavenged, aggressors will be given decent rebuff on battlefield
Tethys reveals 9M2020 production results at Upper Aptian on KBD-02 sites
Turkmenistan remains main gas exporter to China
France raises import of mining industry products from Turkey in September
Azerbaijan extends special quarantine regime
Iran strongly condemns Armenia's missile attack on Azerbaijan's Barda
Iran's budget reliance on oil sale declines
President Ilham Aliyev: Azerbaijani Army liberated 13 villages of Zangilan, Fuzuli, Jabrayil and Gubadli districts
Azerbaijan Deposit Insurance Fund compensating thousands of closed banks' clients
U.S. goods trade deficit shrinks in September
Amount of licenses issued for setting up enterprises in Iran’s Bushehr Province grow
Renewables to play key role in energy sector's dev't, Iranian expert says
Armenian Army, inept as to collaborate with PKK, slaughtering Azerbaijanis - Turkish Ministry of Defense
Georgian GDG Group to open wine factory in 2021
Georgian metallurgical company Rustavi Poladi sees increase in its income
Uzbekistan, Turkey develop military cooperation
Georgia’s Innovation and Technology Agency provides access to finance for innovative project
Uzbekistan, Tajikistan postpone flights resumption date
Servicemen of Azerbaijani Internal Troops urgently sent to Barda
Armenia does not seek to resolve Karabakh conflict peacefully - US military expert
Industrial gas flow obtained at exploration wells in Uzbekistan
Armenian Armed Forces again fire at Azerbaijan’s Tartar by using Grad multiple rocket launchers
Morocco lowers defense products' import from Turkey
Volume of loans issued to manufacturing enterprises in Iran’s Bushehr Province revealed
Azerbaijan drafting laws on gas supply, energy
EAEU countries export large various fabrics to Turkmenistan
Iran enlarges value of exports from Malayer customs
Azerbaijan confirms 340 more COVID-19 recoveries
General Prosecutor's Office gives update on number of victims as result of missile strike on Azerbaijan’s Barda (PHOTO)
If Armenia continues to attack civilians, Azerbaijan to take adequate measures - Assistant to president
Using mosque in Azerbaijan's Zangilan as pigpen is insult to Muslims - Culture Ministry
Romanian expert says digitalization of economy to improve security of EU's energy system
Armenia used cluster munitions to inflict excessive casualties among civilians in Barda - assistant to Azerbaijani president
Kazakhstan's import from Lithuania increases amid COVID-19
Armenian military group annihilated after failed sabotage attempt in Azerbaijan's Zangilan (VIDEO)
Armenian Armed Forces shelling Azerbaijan’s Tartar again
Azerbaijani Armed Forces take revenge for Barda (VIDEO)
By disseminating disinformation, Armenia trying to divert attention from its war crimes
Azerbaijani Ministry of Emergency Situations continues search, rescue operations in Barda
Uzbekistan’s 9M2020 export of textile products up
Cluster bomb attacks are new act of genocide against Azerbaijani people - President's aide
Azerbaijan eyes increasing private investment in renewable energy sector - minister
Latest situation in Azerbaijan’s Barda as result of Armenian terror (VIDEO)
Branch of Russia's Tatneft in Turkmenistan opens tender for installation work
Georgia to build anchovy fishing boat in Turkey
National Bank of Georgia decides to keep refinancing rate unchanged
Assistant to president invites military attaches to visit Azerbaijan’s Barda
Unprecedented number of people apply to participate in Produce in Georgia program
Georgian Natenadze’s Wine Cellar company resumes exports of wines
Armenia's attacks on Azerbaijani settlements - attack against civilized world - Assistant to president
Auction for placing Azerbaijani CBA's short-term notes held
Azerbaijan invites Human Rights Watch, Amnesty International to conduct on site assessment of Armenian crimes - top official
Iran reveals COVID-19 data for October 28
Serious environmental crimes committed in occupied territories of Azerbaijan must be immediately stopped
Missile attack on Azerbaijan’s Barda - crime against humanity – Foreign Ministry
Transition to clean energy in Azerbaijan becomes essential - ECO's Secretary General
Azerbaijani FM meets Deputy FM of Iran
Turkey's export of mining industry products to China up in September
Shelling of Barda - gross violation of int'l humanitarian law, says Ambassador of Kazakhstan
Armenian Armed Forces shelling Azerbaijan’s Goranboy, Tartar - Defense Ministry
Azerbaijan shows fragments of missiles Armenia launched on Barda city (PHOTO)
Solar to be dominant source of electricity generation in Europe
Turkey increases export of mining industry products to Azerbaijan
Total amount of transactions on Turkmen Commodity Exchange for Sept. 2020
Saipem’s capital expenditure up in Q3 2020
General Prosecutor's Office discloses number of victims as result of missile strike on Azerbaijan’s Barda
New readjustments for extraction of renewable energy sources being built in Azerbaijan
Netherlands removes Georgia from list of safe countries
Saipem sees decline in revenues, net profit
Nova Resources B.V. to become owner of share capital of Kazakhstan's KAZ Minerals
Armenian troops again shell Azerbaijan's Barda, casualties reported
90% of Saipem’s new contracts are non-oil
Iran discloses volume of goods exported via Sistan and Baluchestan Province
Ukrainian airlines allows to launch flights to Tashkent
Azerbaijani Armed Forces never aim at civilians - Defense Ministry
Iran increases consumption of steel products
Armenian armed forces firing rockets to Azerbaijani Barda - assistant to Azerbaijani president (UPDATED) (PHOTO/VIDEO)
Azerbaijan taking important steps to reduce harmful emissions into atmosphere
Ukraine claims to be strategic partner in investing in renewable energy sector
Kazakhstan to hold sales of oil, gas subsoil plots through auction online
Precious metal prices in Azerbaijan vary
Rice harvesting underway in Turkmenistan’ Dashoguz region
Exports of Iran's steel products decreases
Iran’s Hormozgan Province boosts bitumen production
Turkey's export of defense products to Germany drops
COVID-19 requires more green projects, says EU
Involvement of any country in settlement of Karabakh conflict must be agreed upon by Armenia, Azerbaijan - Spokesman for the Russian President
All news