Interfax cited Mr Dmitry Medvedev Russian President said at a meeting with members of a roundtable of industrialists of Russia and the European Union recently as saying that a challenging investment climate remains the main problem for Russia's economy.

He said that "The main problem for the Russian business and the Russian economy is a hard investment climate. We should admit frankly the measures that we have taken have not brought about significant improvements."

Mr Medvedev said the investment climate in Russia is affected by our internal problems, both economic and political ones. He said that "It is wrong to turn a blind eye to this, but in general, we just haven't found a clue to resolving this issue."

(Sourced from Interfax)