Collaborative U.S.-Russian Energy Partnership Hailed in Houston

U.S. Private Sector Preparing to 'Pull Out the Stops' to Ensure Repeal of
Jackson-Vanik with Strong WTO Agreement in Hand

HOUSTON, April 25 /PRNewswire-USNewswire/ -- One day after the announcement by
Russia's energy giant Gazprom that it plans to become a significant supplier
of natural gas to the United States, the U.S. energy capital, Houston, Texas,
served as the backdrop for the fourth day of a U.S.-Russia Road Show aimed at
drawing attention to bilateral successes in the commercial sphere and the
imperative for increased political cooperation between the two countries.

At a luncheon organized by the Houston World Affairs Council and sponsored by
U.S. oil major ConocoPhillips, U.S.-Russia Business Council President Eugene
Lawson saluted ConocoPhillips and Russia's largest private oil company,
Lukoil, for setting an excellent example as to how U.S. and Russian businesses
can work together for common benefit and profitability. ConocoPhillips owns a
20 percent share of Lukoil, and the companies are successfully partnering in
Russia on a series of projects. Additionally, Lukoil has expanded into the
United States with its operation of service stations on the East Coast.

While all the U.S. oil majors are active in Russia, opportunities for
U.S.-Russian commercial cooperation extend beyond the energy sector, according
to Lawson. Growth in Russia's economy has provided opportunities in real
estate, consumer goods, manufacturing, high technology, and services. "What
is particularly telling about the Russian market and the successes of U.S.
business there is that 80 percent of U.S. companies say that their ROI is
higher in Russia than in any other emerging market," noted Lawson.
Additionally, Lawson noted that the single most important item on the
bilateral commercial agenda is Russia's accession to the World Trade
Organization, which will increase opportunities for Texas companies in the
Russian market as Russia liberalizes its economy in conjunction with its WTO
commitments. Texas currently exports $1.2 billion in goods annually to
Russia, with machinery, transportation equipment, chemicals, and computers as
the state's leading exports.

Russian Federation Senator Mikhail Margelov, the Chair of the Foreign Affairs
Committee in the upper chamber of Russia's parliament, noted that the
Jackson-Vanik Amendment -- the U.S. law that has the potential to prevent the
U.S. private sector from sharing in Russia's liberalizations once it enters
the WTO -- should have been repealed long ago. Pointing to how far Russia has
come on the matter that served as the genesis for the law -- Jewish emigration
-- Margelov commented that last month Russia and Israel agreed to abolish
visas for travel between the two countries.

Russia continues to make significant progress in its bid to join the WTO,
informed Lawson, and could enter the WTO as early as this year. He underlined
that the U.S. business community effort -- organized as the Coalition for U.S.
Russia Trade (www.usrussiatrade.org) and spearheaded by the U.S.-Russia
Business Council in Washington, DC -- is seeking a strong and meaningful
accession agreement. "Some important issues are outstanding, but once that
agreement is in hand, we will pull out the stops to work with the U.S.
Congress to ensure that U.S. firms and farmers have equal access to the
Russian market by graduating Russia from Jackson-Vanik and extending Russia
permanent normal trade relations (PNTR)," said Lawson.

About the U.S.-Russia Business Council (USRBC)
The U.S.-Russia Business Council (USRBC) represents the interests of its 300
U.S. and Russian member companies, providing business development and
government relations support in both Moscow and Washington. The USRBC
contributes to the stability and development of a free market in Russia and
supports Russia's integration into the global economy. It also serves as the
Secretariat for the Coalition for U.S.-Russia Trade (www.usrussiatrade.org).
For more information, visit the USRBC online at: www.usrbc.org.

SOURCE U.S.-Russia Business Council

Svetlana Minjack, Director of Communications and External Affairs of
U.S.-Russia Business Council, +1-202-739-9182, sminjack@usrbc.org