Russia is back - warning to west

Like it or not, Russia is back,” said a Kremlin aide. “We are on the way to becoming a gas and oil superpower. “For Putin, the most important thing at the G8 is to get the respect he feels Russia deserves. It is about being up there with the big boys again.” Russia accounts for just 2.6% of world GDP but has 27% of world gas reserves and 6% of proven oil reserves. The G7 account for 41% of global GDP but have only 4% of gas reserves and 9% of the oil. Washington has been watching Putin’s assertion of power with increasing alarm. “Russia is no longer paying attention to what the Americans or the Europeans tell them,” said Cohen, who returned from a visit to Russia last week. “They’ve got their own agenda and they’re pushing it very hard.