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    Russia Backs China's Initiative for Energy Projects Investment Fund

    © Sputnik / Aleksand Demiyanchuk
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    The Russian Energy Ministry backs China's initiative on founding a joint $1.5-billion investment fund for energy projects, Russian Deputy Energy Minister Kirill Molodtsov said Thursday.

    MOSCOW (Sputnik) — The idea of creating the fund was voiced by the director of the Chinese Institute of Economics and Energy during the National Oil & Gas Forum in Moscow.

    “We will bring the initiative to the government and will support it completely,” Molodtsov said.

    "I think today or tomorrow we will receive it [the offer]," Molodtsov said, answering the appropriate question.

    Chinese workers hang up red lanterns at the headquarters building of CNPC (China National Petroleum Corporation), the parent company of PetroChina, in Beijing, China, 27 September 2014.
    © East News / Zhan min - Imaginechina/FOTOLINK
    Moscow and Beijing efficiently cooperate within the existing economic and banking projects, striving to increase bilateral trade. Among the venues of economic cooperation are the China-proposed Asian Infrastructure Investment Bank, the BRICS New Development Bank, the Silk Road infrastructure fund and the China-Russia Expo.

    In March, Sergei Ivanov, the chief of staff of the Russian presidential administration, called strategic partnership between Russia and China a model of intergovernmental relations of the 21st century.

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    investment, Russian Energy Ministry, Kirill Molodtsov, China, Russia
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