MAFRA, Portugal, Oct. 27 (UPI) -- The 20th Russia-European Union summit wrapped up in Portugal with agreements regarding energy and economic issues.
Russian President Vladimir Putin said Russia and the EU agreed on an early warning system regarding energy shortfalls.
RIA Novosti quotes Putin as saying, “We agreed to continue work to establish an early warning mechanism in relation to deliveries and demand for energy from Russia to the EU.”
EU members expressed concern in August over Russia’s energy supply reliability after the Russian energy company Gazprom threatened to cut gas supplies to Belarus because of outstanding debt.
EU and Russian officials also discussed measures regarding the division of energy markets. The focus was on Gazprom’s investment in infrastructure associated with Europe’s natural gas supplies, which Europe sees as a Russian use of petrodollars to buy up European assets.
The summit also concerned Russia’s entry in the World Trade Organization as well as matters concerning Russia-EU border agreements.
Putin said Russia may set aside $176 million to put a Russia-EU border cooperation initiative into practice.
