MOSCOW, Feb. 9 (UPI) -- This weekend's talks in Russia among the Group of Eight nations will focus on the issue of global energy supplies and security.
Following European energy supply issues resulting from Russia's price increase dispute with Ukraine over the New Year, the European G8 governments intend to use the summit to pressure Russia into diversifying its energy exports, the Financial Times reported.
French Finance Minister Thierry Breton will table proposals, including the provision of longer-term contracts with Russia as an energy supplier and assistance in the acquisition of funding for the development of more pipelines.
It is hoped these proposals will be incentives for Russia to ratify the Energy Charter Treaty, which it has already signed.
The 50 ECT signatories continue to discuss regulations for the movement of oil, gas and power across national borders.
The G8 is comprised of Britain, Canada, France, Germany, Italy, Japan, Russia and the United States.
