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Russia does not have a modern economy: it's a petro-power. The only thing it sells that the world wants to buy is oil and natural gas. When was the last time anyone bought a Russian computer? A Russian car? A Russian cell phone? Russia is so dependent on high energy prices that if oil falls below $100 a barrel, the Kremlin can't meet payroll.

Russia's oil fields are mature and require capital and Western technology even to keep production flat.

Russia is an amazing country to be an entrepreneur.

Economic activity is moving from the Atlantic ocean to the Pacific ocean... Russia has a certain natural advantage because it also borders the Pacific Ocean.

We met our partners in Europe, and they are signaling to us that supplies from traditional European gas production sources is falling, and falling substantially. Without new volumes of Russian gas, they simply cannot cope.

I think the soft underbelly of Russia is - what's driving their ability to be aggressive is their energy. If you take the energy out of their economy, Russia is not so strong.

The interests of the Soviet Union are in controlling highly developed countries and having the benefit of their economies so that they can run their own inefficient empire.

The Russians are turning east to the Chinese - to the Europeans' surprise. It always seemed to me that the relationship between Russia and China would shift from being based in Marx and Lenin to being based in oil and gas.

I have never stated Russia is an energy superpower, but we have more reserves than almost anybody else. We have always behaved, and we will continue to behave, in a responsible way. We intend to participate in the elaboration of common rules in the energy sector and to abide by rules which are developed together.

The greatest asset, even in this country, is not oil and gas. It's integrity. Everyone is searching for it, asking, 'Who can I do business with that I can trust?'