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The global financial crisis has changed the format of the Group
The global financial crisis has changed the format of the Group of Seven, causing the finance ministers of the major industrialized countries to bring Russia into their discussions, the Russian finance minister said.

Alexei Kudrin said late Thursday in Washington that Russia had been included in evening discussions on the initiative of U.S. Treasury Secretary Henry Paulson.

"The issue of the global crisis will be discussed with Russian participation," Kudrin told reporters before the dinner meeting. "Russia's participation in the anti-crisis measures is very significant, and therefore, I think, this makes it possible to change the format."

Although Russia joined the G8 in 1997, it has not been part of G7 meetings, when finance officials from the United States, Canada, Japan, Germany, Britain, France and Italy discuss global economic issues.

Kudrin said Russia had been quicker than other countries in responding to the crisis, citing government guarantees on the interbank market as an example.

"Russia has its experience to bring to the formulation of measures to counter the crisis," he said, adding that Russia was also deeply linked to the global financial system.

"Certainly, Russia has reserves that are placed on world markets, and their fate also interests us," the minister said, adding that currently these assets "are very reliably protected."


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