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U.S. markets recover from steep losses
ESSEN, Germany, Feb. 10 (UPI) -- Germany is supporting Russia and China's efforts to join the Group of Seven industrialized nations, an official announced in Essen Saturday.
German Finance Minister Peer Steinbruck announced his support at a G7 news conference, Deutsche Welle reported.
Russian Finance Minister Alexei Kudrin, meanwhile, complained that his country is being denied full membership in the G7 for "political reasons."
Russia joins members of the G7, making it the Group of Eight, for annual summits. But Russia hasn't gained admission into the G7 for meetings on financial issues such as exchange rates, oil prices and trade, Deutsche Welle reported.
"There are evidently political motives that stand in the way of our full membership of the G8 finance group," Kudrin told Germany's Die Welt newspaper. "Russia successfully pursued its economic growth strategy last year and I believe that as finance ministers we are ready to meet in full G8 format."
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