Russian Energy Sector Needs Good Investments

The Russian Federation Council international affairs comittee head Mikhail Margelov said that to enhance steady economic growth for Russia in the period till 2020, it needs around $700 billion in investments in the energy sector.

"Moscow wants to know how its energy cooperation with the U.S. will spur its economic expansion and help optimize the use of energy resources."

The Russian energy sector desperately needs updating and revision of management practices and Russia is interested in investments and technologies contributing to such updating, he said.