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Friday, 26 November 2010 - Putin, Merkel trade barbs ahead of talks in Germany |
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    Read more with google mobile : Putin, Merkel trade barbs ahead of talks in Germany |

    Edition: U.S. Article Comments (0) Email Print Reprints Full Focus Editor's choice A selection of our best photos from the past 24 hours.  Full Article  Read Analysis: Thinking the unthinkable -- a euro zone breakup 10:56am EST North Korean leader and son visited artillery site: reports | 9:35am EST Exclusive: Corruption charges to feature in WikiLeaks release 24 Nov 2010 South Korea defense minister quits after attack | 10:51am EST UPDATE 2-Oracle ruling slams SAP's reputation 24 Nov 2010 Discussed 197 Obama’s Democrats in disarray over expiring tax cuts 99 Obama’s 2012 re-election prospects uncertain: poll 68 Wesley Snipes ordered to prison for tax conviction Watched Bejeweled bra exposed in NY Thu, Oct 21 2010 Row over vote orgasm video Fri, Nov 19 2010 High tech shopping with apps Wed, Nov 24 2010 Analyst Research Report Title Price ValuEngine Industry Report for Utility-electric Power Provider: ValuEngine, Inc. $49.0 Buy NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here. Green Business Investors hope climate deal on track Investors in "green" assets hope that upcoming U.N. climate talks in Mexico will salvage a deal to cut greenhouse gas emissions in 2011, and in the meantime widen and simplify existing carbon markets.  Full Article  Copenhagen Accord: Climate guide or too weak? Japan: Extending Kyoto "meaningless" Putin, Merkel trade barbs ahead of talks in Germany Tweet This Share on LinkedIn Share on Facebook By Gleb Bryanski BERLIN (Reuters) - Russian Prime Minister Vladimir Putin and German Chancellor Angela Merkel accused each other of hindering trade and investment Thursday ahead of talks which may result in the biggest German divestment from Russia... Related News UPDATE 2-Merkel assures investors no euro risk before 2013 11:56am EST UPDATE 1-E.ON's Gazprom stake sale deal possible Fri-source 9:10am EST E.ON's Gazprom stake sale deal possible Fri-source 7:54am EST UPDATE 2-Merkel:EU needs courage to make investors share risk Wed, Nov 24 2010 UPDATE 2-Germany's E.ON may sell stake in Russia's Gazprom Wed, Nov 24 2010 Analysis & Opinion Washington Extra – Chastened, humbled… and shellacked Related Topics World » Russia » Stocks     By Gleb Bryanski BERLIN | Thu Nov 25, 2010 3:36pm EST BERLIN (Reuters) - Russian Prime Minister Vladimir Putin and German Chancellor Angela Merkel accused each other of hindering trade and investment Thursday ahead of talks which may result in the biggest German divestment from Russia to date. In an article published in Germany's Sueddeutsche Zeitung newspaper Putin warned that European legislation aimed at liberalizing energy markets could hurt investment and eventually lead to energy shortages in Europe. The European Union agreed in March 2009 to liberalize energy markets by splitting giant utilities, ensuring that small gas suppliers can get unhindered access to European infrastructure and compete on an equal footing with the dominant players. The plan included a so-called "Gazprom Clause" designed to prevent companies from outside the bloc -- such as Russia's state-controlled gas giant Gazprom -- from buying up strategic distribution networks without approval by governments. "It creates serious risks in the European energy sector and undermines investors' plans to put their money into new projects," Putin said in the article, warning that the plan will result in higher prices for energy. Merkel responded by lambasting Russia's protectionist trade measures which are hurting German exports and said that Putin's policies contradicted his stated aim to create a free trade zone stretching from Lisbon to Vladivostok. "The steps that Russia has taken recently do not exactly point in that direction," Merkel told reporters. "I hear time and again from Russia that import duties are being repeatedly raised without warning." E.ON SALE Merkel also criticized Putin's pet project of a Customs Union between ex-Soviet neighbors Russia, Belarus and Kazakhstan, saying the union made a trade agreement with the EU more difficult. Putin wants to revive Russian industry through a policy that will force foreign firms to invest in production. His government raised or plans to raise a number of import duties on goods ranging from cars to some handheld communication devices. Russia also wants to diversify trade away from Europe, which it sees as a stagnating market, to Asia through building new pipelines and promoting corporate deals. China is on track to overtake Germany in terms of Russian trade volumes. Putin and Merkel will also discuss a deal under which Germany's E.ON would sell a $4.5 billion stake in gas giant Gazprom to state-owned Russian bank VEB, chaired by Putin. E.ON, the world's largest utility, is currently the biggest German investor in Russia but the company is struggling to cope with high debts and falling revenues and has announced plans to divest from non-strategic assets. The Russian government has put on a brave face over the potential sale, saying it is bullish on Gazprom. However, the government's willingness to pay a premium over the market price reflects concerns over Gazprom's falling share price as more European clients turn to cheaper gas from other sources. The government may also use the 3.5 percent stake in Gazprom currently owned by E.ON for asset swaps, which have emerged as a new strategy for Russia to get a foothold in foreign energy markets. (Additional reporting by Andreas Rinke in Berlin and Darya Korsunskaya in Moscow; editing by Andrew Roche) World Russia     Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters.   © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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