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Microelectronics - about 25 percent of Russia's GDP and almost half its state budget come from oil and gas income as things stand (Photo: Tambako the Jaguar)

EU to help Russia modernise its economy

The upcoming EU-Russia summit is to see the launch of a new initiative designed to help bring Russia's petro-dominated economy into the modern age.

The "Partnership for Modernisation" began as a conversation between EU commission chief Jose Manuel Barroso and Russian President Dmitry Medvedev at the last EU-Russia summit in November. The two sides are now racing against the clock to agree a joint communique for the top-level meeting in Rostov-on-Don on 31 May.

The EU commission i...

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

Microelectronics - about 25 percent of Russia's GDP and almost half its state budget come from oil and gas income as things stand (Photo: Tambako the Jaguar)

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

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