Brussels, 09/02/2006 (Agence Europe) - Russia will be under pressure in Moscow on Friday and Saturday during the meeting of G8 finance ministers who will be discussing energy supply security. Europeans hope to press Moscow to ratify the treaty on the Energy Charter that it has so far only signed. The treaty, which took effect on 16 April 1998, provides a legal framework allowing long-term cooperation to be promoted in the energy sector on the basis of the principles set out in the European Energy Charter. Also, a protocol to the treaty on the transit of energy matter and products would allow other Russian gas producers to gain access to pipelines, which are currently owned by the State monopoly, Gazprom. A number of objectives identified by the French memorandum on energy (EUROPE 9115) have been forwarded by Thierry Breton to his Russian counterpart, Alexei Kudrin, in order to incite Moscow to take this step. The European Commission is, of course, in favour of ratifying the treaty which creates a forum for resolving supply conflicts, a spokesman states. This point is also on the agenda of the meeting of G8 energy ministers in Moscow on 15 and 16 March, and the G8 Summit, in Saint Petersburg in July.
This weekend, finance ministers will also discuss improvement to the way oil markets work, as well as development aid, infectious diseases and the fight against terrorism financing. Chinese, Indian, Brazilian and South African representatives will be at the working lunch on Saturday devoted to international trade. The World Bank, the International Monetary Fund, as well as the Commission represented by Joaquin Almunia will be in Moscow.