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Russian President Dmitry Medvedev accepted on Wednesday the resignation of acting
Russian President Dmitry Medvedev accepted on Wednesday the resignation of acting presidential aide Sergei Yastrzhembsky, who also held the position of the president's top adviser on relations with the EU, a Kremlin spokesman said.

Media reports earlier said that Yastrzhembsky would be appointed head of a Russian-Italian investment bank.

Plans to establish the bank were discussed at a meeting in early April between former president Vladimir Putin, who was appointed Russia's PM on May 8, and Italian businessmen. Yastrzhembsky said after the April talks that Russia and Italy would establish an investment bank on a parity basis later this year.

The project will include Italy's banking group Intesa Sanpaolo and a number of large energy and industry companies, as well as Russia's Gazprombank, the financial arm of energy giant Gazprom, and VEB Development Bank. Large Russian companies involved in cooperation programs with Italy will also be invited to join the project.

The bank will be aimed at funding large investment projects in Russia, Europe, the CIS, and later on in China and India.

Yastrzhembsky has been adviser on EU relations since March 2004, and prior to this he spent four years as research and information coordinator for federal executive bodies involved in anti-terrorist operations in Russia's North Caucasus, and was in charge of press and media relations.

President Dmitry Medvedev was inaugurated last Wednesday.


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