• By The Financial District

EU-RUSSIA ECONOMIC COOPERATION EXTREMELY DIFFICULT: VON DER LEYEN

Economic cooperation between Europe and Russia is becoming increasingly difficult, European Commission President Ursula von der Leyen said at an EU summit in Brussels Monday, Deutsche Press- Agentur (dpa) reported.

"Many attempts on our side over many, many years, almost decades to improve [the] relationship with Russia did not have [the] success they deserved," she said.


"Economic cooperation over time has gotten more and more difficult," she said, adding that the Russian economy needs to be modernized.


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"What we see today is an economy that is lacking an enormous amount of modernization that would be necessary, an economy that is highly depending on energy revenues, but a regime that is not willing to interact in a constructive way with us."


Von der Leyen said she is planning new proposals for dealing with Russia, including regarding the Nord Stream 2 Baltic Sea pipeline.


She said the options would be discussed in a report on relations with Russia at the end of June. The report will present "the different policy options that will show how we can deal with Russia," she added.



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