Medvedev blames the West for global economic woes

0 Comments | AFP, June, 2008

SAINT PETERSBURG (AFP) — Russian President Dmitry Medvedev on Saturday blamed Western countries for the world's current economic woes and said Russia's vast energy reserves could be part of the solution.

Speaking at a meeting of high-powered business executives in Saint Petersburg, Medvedev said the United States was behind a global credit crunch and that other countries had caused a food crisis by investing in biofuels.

"It is precisely the gap between the United States' formal role in the world economy and its real capabilities that was one of the key reasons for the current crisis," said Medvedev, who came to power last month.

"Russia is a global player. We understand our responsibility for the fate of the world and want to participate in forming the...