The Russian Energy Ministry is going to introduce a concept of reformingthe gas industry to the government by the end of 2002, Russian EnergyMinister Igor Yusufov reported at a briefing after today's governmentmeeting, where they had discussed preparation for the fall-winter season.According to him, in the near future, the Ministry is to elaborate oncorresponding documents. After this, a mechanism of creating the gasexchange "will be launched". Yusufov stressed that "sensitive issues" wouldbe settled. They are gas payments by ministries and other authorities andprivate individuals. A number of protective measures are provided in thisregard. Additionally, according to the Minister, one does not expect aprice jump in connection with this reform..
The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz
China has allocated $20 billion to restore economies of the Arab states. In addition, China and the Arab countries will create an inter-bank association worth three billion dollars