Russia says ready to aid EU

Updated: 2011-10-31 22:15


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MOSCOW - Russia is ready to provide financial aid of up to $10 billion to the European Union (EU) to help it tide over the financial crisis, a senior Russian official said Monday.

"Russia is interested in keeping European stability," presidential economic advisor Arkady Dvorkovich told reporters, saying that Moscow has not received any EU request for financial help but is willing to help if it comes.

Moscow could provide the assistance through the International Monetary Fund (IMF), he added.

Several eurozone countries are now facing severe debt crises, sending shockwaves to global financial markets. EU leaders have recently hammered out a rescue package to fight the financial woes.

"The most important thing for financial stability is a decision to lower budget deficit in all countries," said Dvorkovich. "We would press for it in coordination with our partners in BRICS (Brazil, Russia, India, China and South Africa)."

With an eye on the upcoming G20 summit in France, he said Russia would demand more rights for developing countries in the IMF decision-making and also push for the full execution of the previous decisions made by the G20.

Russia, along with Turkey, bids to chair the G20 in 2013.