By the end of 2006 the ratio of bank assets to gross domestic product (GDP) will reach 45%, said First Deputy Central Bank Chairman Andrei Kozlov at a session of the Federation Council's interregional bank council yesterday. Kozlov said that 'at the present time the ratio stands at 40%. In European countries and the US the ratio is approximately 80-120%.' The Russian ratio of bank assets to GDP corresponds more closely to that of Ukraine, Mexico and Kazakhstan. However, Kozlov said that if the economic situation in Russia remains favourable and the bank system consequently solves its problems connected with strategic development, then the strong domestic economy should become 'the motor of economic development along with foreign trade.'
After the incident with the shootdown of the Ilyushin Il-20 reconnaissance aircraft over the Mediterranean Sea, Russia will supply an S-300 anti-aircraft missile system to Syria
Indeed, how dare they run US-independent policy? They should have followed the example of the European Union that turned independent states of the Old World into US-ditto entities