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Putin calls for not politicizing operation of energy markets

June 21, 2013, 15:28 UTC+3

Russian President believes market players should be allowed to choose partners by themselves

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ST PETERSBURG, June 21 (Itar-Tass) - Russian President Vladimir Putin has called for not politicizing the operation of energy markets.

“Of late we have been observing higher global competition in energy,” he told the roundtable meeting The Summit of Energy Companies: Changes on the World Oil Markets within the framework of the St. Petersburg International Economic Forum on Friday. “This is absolutely evident at the corporate level as well - a new wave of mergers and takeovers, the formation of new leaders is embracing the world.”

“I believe that under these conditions we need to make the problem of energy resources support less politicized and allow players in the market to choose counter parties and partners themselves,” Putin said. “The task of countries’ authorities is to create all necessary conditions for such work.”

Putin described as a good example of mutually advantageous cooperation this year’s deal, where Rosneft acquired a 100 percent stake in TNK-BP and BP, in turn, increased its share in Rosneft to 19.75 percent.

“I believe that such mutually advantageous exchange of assets in the fuel and energy complex creates a good basis for moving forward,” he said.

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