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Russia,China sign billion $ energy deal
Raghavendra in Beijing | May 23, 2008 23:31 IST
The deal was signed by Chinese and Russian officials in presence of visiting Russian President Dmitry Medvedev and his Chinese counterpart President Hu Jintao at the Great Hall of the People.
Medvedev is on his first foreign trip since becoming President earlier this month.
Under the deal, Russia would build a US$ 500 million nuclear fuel enrichment plant and supply low enriched uranium to energy hungry China. China has plans to boost its nuclear energy production by building more plants to meet its needs.
In a joint statement signed by the two leaders after two hours of talks, the two countries expressed concern over the US missile defence plan, saying it was not conducive to strategic balance and stability. They said the missile defence plan would negatively impact efforts on international arms control and non-proliferation.
The US plans to deploy a part of missile shield in eastern Europe has irked Russia which perceives it as a threat to its security.
'All parties should consider global and regional security, make diplomatic efforts, refrain from military and extreme means, cautiously resort to sanctions and take into account the interests of the country involved,' the statement said, according to state-run Xinhua news agency. The same rules applied to other international issues concerning Iraq, reconstruction in Afghanistan, the Middle East, Kosovo and Darfur in Sudan, the statement said.