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Russia: Putin talks investment with Pirelli CEO Marco Tronchetti in Sochi02:28

Russia: Putin talks investment with Pirelli CEO Marco Tronchetti in Sochi

Russian Federation, Sochi
October 11, 2015 at 21:14 GMT +00:00 · Published

Russian President Vladimir Putin met with Marco Tronchetti, the CEO of Italian tyre manufacturer Pirelli, on the sidelines of the Russian Grand Prix in Sochi on Sunday, assuring him that Russia will not move away from the liberal course of currency deregulation.

"We are not going to move away from the liberal course of currency regulation. This means for investors that we do not in any way intend to limit the movement of capital or foreign currency earnings," Putin stated.

"All this gives reason to believe that the situation in the Russian economy will be stable and despite the well-known decline in domestic demand, we will work hard to make it rise and it has become an essential factor in ensuring high rates of economic development," the Russian president added.

Tronchetti told Putin that Pirelli is developing a commercial network together with Russian oil giant Rosneft, stating that the company had "already invested four-hundred and fifty million euros (€4501 million/ $511 million) into the Russian economy and intend to go on."

Russia: Putin talks investment with Pirelli CEO Marco Tronchetti in Sochi02:28
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Russian President Vladimir Putin met with Marco Tronchetti, the CEO of Italian tyre manufacturer Pirelli, on the sidelines of the Russian Grand Prix in Sochi on Sunday, assuring him that Russia will not move away from the liberal course of currency deregulation.

"We are not going to move away from the liberal course of currency regulation. This means for investors that we do not in any way intend to limit the movement of capital or foreign currency earnings," Putin stated.

"All this gives reason to believe that the situation in the Russian economy will be stable and despite the well-known decline in domestic demand, we will work hard to make it rise and it has become an essential factor in ensuring high rates of economic development," the Russian president added.

Tronchetti told Putin that Pirelli is developing a commercial network together with Russian oil giant Rosneft, stating that the company had "already invested four-hundred and fifty million euros (€4501 million/ $511 million) into the Russian economy and intend to go on."