G8: Economic growth at risk from unstable energy supplies

Ministers from the world's richest countries meet in Moscow seek cooperation amidst heightened fear that energy prices could harm strong global economic growth.

February 11, 2006: 5:41 PM EST
MOSCOW (Reuters) - Finance ministers of world's wealthiest nations sounded the alarm over the cost of energy on Saturday and urged greater international cooperation to ensure stable supplies.

Ministers from the Group of Eight industrialized countries said in a communique that global economic expansion was strong but at risk because of high and volatile energy prices

"We need to develop a civilized strategy which will reliably secure the world with energy at reasonable prices and with minimal damage to the environment," Russian President Vladimir Putin told the ministers.

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