Russia's Vice Premier Alexei Kudrin and US Treasury Secretary Paul O'Neill have discussed financial and economic issues pertaining to the upcoming meeting between Russian and US leaders Vladimir Putin and George W. Bush. The two presidents are to meet in the United States in November. Alexei Kudrin told newsmen about this after his meeting with his US counterpart. Kudrin added that this was just a first step on the way to serious and large-scale preparations for the summit meeting. Some issues have already been formulated and are to be discussed. Besides, the two ministers talked about bilateral economic relations, and the forthcoming G-8 meeting of finance ministers and central bank heads, due in Washington on Saturday. The gathering is to highlight efforts to thwart financing channels of international terrorism and joint steps toward this goal.
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