Approach Russia with Great Caution

29 Jan 2009
The Financial Times

Vladimir Putin, the Russian prime minister, does not make it easy to grasp the barbed olive branch that he may be trying to offer.

Speaking at the Davos gathering of world leaders, he called for global co-operation in response to the global economic crisis. And he made the not unhelpful, though hardly original, suggestion that "excessive dependence" on the US dollar as the single reserve currency was "dangerous for the global economy".

Now, as before, pragmatic caution should be the watchword in dealing with Russia. Co-operation with Moscow will not solve the economic crisis but it can do a little to alleviate it. If Mr Putin is serious, let's put his insults to one side and see what, in concrete terms, he is offering.