Putin - Kyoto Protocol Offers Only "Short-Term" Economic Benefits

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By Alister Doyle and Ron Popeski

MOSCOW, Oct 3 (Reuters) - "President Vladimir Putin said on Friday that Russia's economy will benefit only in the short term from a landmark U.N. pact on limiting global warming that will collapse without Moscow's backing.

And one of Putin's aides said the Kyoto Protocol, which seeks to rein in emissions of gases from fossil fuels burnt mainly in factories and cars, could be an economic millstone as Russia recovers from a slump after the fall of the Soviet Union.

'Our first concern should be the lofty idea and goals we set ourselves and not short-term economic benefits,' Putin said of Kyoto at a World Economic Forum meeting in Moscow. The U.N. pact will enter into force only if Moscow ratifies it.

EDIT

'Russia today has the opportunity to sell quotas," Putin said. "We hope such opportunities will soon no longer exist or at least they will be fewer as we are counting on economic growth.' Putin, who backed away this week from promises to sign up for Kyoto soon, did not say how long Russia will take to decide.



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