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Russian Foreign Ministry, Oil Giant Seal Cooperation Pact

Russia's Foreign Ministry and the state-owned Rosneft oil company have signed a cooperation agreement aimed at facilitating coordination during the implementation of international projects.

The agreement was signed in Moscow on October 26 by Foreign Minister Sergei Lavrov and Rosneft CEO Igor Sechin.

"We have been cooperating with the company for a long time," Lavrov said. "We have accumulated considerable experience of mutual support."

Sechin said that "the agreement provides the basis for cooperation, information exchange, and consultations in times of exacerbated competition and the manipulation of markets."

Lavrov said the agreement was needed in part because of "illegitimate sanctions and attempts to spread national laws extraterritorially to the companies of third countries."

Such developments, he said, mean that "unfair competition is being added to natural competition."

Based on reporting by Interfax and TASS

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