dimpy.handa
Dimpy Handa
There is a huge potential for economic cooperation between two of the biggest states in the world. Putin desperately needs investment and technology to modernize his country's economy. The USA can offer this and more. It can help Russia to get into the World Trade Organization, which would integrate it into the global economy and put pressure on Russian companies to drop their corrupt ways and adopt modern modes of operation. Russia also has plenty of chips to bring to the table. Pumping seven million barrels a day, Russia is second only to the Saudis in oil production. The Bush team saw Russia as a source for crude oil should U.S. relations with Saudi Arabia deteriorate, this is why on the eve of Moscow summit in May, 2002, a $140-billion contract was awarded to a subsidiary of the US giant Exxon to upgrade Russia's Orlan oil platform.