Russian Prime Minister Vladimir Putin met with European Commission President Jose Manuel Barroso on Friday to discuss energy security and bilateral economic relations, Xinhua reported.
Russia and the European Union (EU) are "significant partners for each other," Putin said after talks with Barroso, noting that Russia is the EU's third largest trade partner following the United States and China.
The Russian premier said Moscow was willing to compromise with the EU, but these compromises should be reached on the basis of equality.
"We are prepared to find compromises and move towards our partners while understanding and respecting their interests, but we demand the same relations towards Russia," he was quoted by the Interfax news agency as saying.
Barroso, for his part, said the EU is ready to discuss Russia's proposal of an international energy security agreement.
Moscow and Brussels should continue to work on a partnership and cooperation agreement, he said, adding that the EU backed Russia's bid for the World Trade Organization (WTO).
Earlier in the day, Russian President Dmitry Medvedev held talks with Barroso on energy security, the global financial crisis and Russia-EU ties.
The Russia-EU relations deteriorated recently due to the brief war between Russia and Georgia last August and Russia's gas row with Ukraine in January, which left millions of Europeans shivering in the depths of winter for two weeks.