Blair calls G7 talks on Russia
Sunday 06 September 1998
They will assess the fallout from the crisis and define conditions on which the West can help Russia. Downing Street stressed that any rescue package would be dependent on "continuing economic reform".
The snap meeting follows talks with US President Bill Clinton, who briefed Mr Blair on the state of the economy after his visit to Moscow last week. Mr Clinton is thought to have painted a gloomy picture of Russia's economic situation and President Yeltsin's grip on affairs.
The talks will cover the effect of the rouble's drop in value on European Monetary Union, the political fallout, and how much British banks could lose through loans and investments. Economists put the figure at $1bn. Officials may also raise the control of Russia's nuclear arsenal which contains as many as 40,000 warheads.
"We need to be in a position to be ready to act quickly when the new government is formed in Russia," Mr Blair's official spokesman said. "We will be considering our support but any help has got to be tied to continuing economic reform."
The emergency meeting, chaired by Sir Nigel Wicks, deputy Permanent Secretary at the Treasury, will include senior offcials from the IMF, World Bank and European Commission. But it falls short of a fully fledged summit following objections by Germany's Chancellor Kohl.
Report, page 16; Focus, page 22
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 Doctors remove 80 teeth from boy's jaw
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 4 Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
- 5 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
Germany and ECB set for fight over money-printing
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
Syrian teenager Usaid Barho reveals how he escaped from Isis using a suicide vest
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk
£32000 - £40000 per annum: Recruitment Genius: A Business Manager is required ...
£45000 - £55000 per annum: Recruitment Genius: This is an exciting opportunity...
£20000 per annum: Recruitment Genius: Panel Wireman required for small electro...
£25000 - £27000 per annum: Recruitment Genius: An SME based in East Cheshire, ...