Valentin Zavadnikov, the head of industrial policy committee in Russian Federation, criticized the actions of Russian and American governments laying the responsibility for the crisis on the national administrations. He expressed his regret noting that the U.S. along with Russia and other states are not very hasting to get insight into the nature of the economic disaster.

“Both our and your governments have made a great number of things which led to the crisis. Still, it was not real processes in their countries that concerned all the state administrations but they rather cared for their own prosperity. These actions globally resulted in what is known today as the crisis,” said Zavadnikov addressing the round table at Brookings Institution in Washington.

“We clearly understand that the crisis is a natural phenomenon, this is a reaction of the economy activity to the actions of economic subjects which in turn were generated in the course of wrong actions on the part of the governments. We treat the crisis in two ways. First is that we try to spend money to support inefficient economy that we created. And the second is that we are going to regulate it much better. All the problems incurred from our wrong regulation as we neglected actual processes and pursued our own interests on purposes of regulation,” he noted.

Zavadnikov stressed that current actions do not ease the crisis but instead they amplify it. “Unless it occurs to the heads of both our and your governments that we need systemic decisions, that in fact they have to change something instead of pretending to do so, crisis will further naturally exist and adjust our actions,” he added.