Weapons of Mass Destruction (WMD)

DATE=06/27/02

TYPE=CORRESPONDENT REPORT

TITLE=G8 Russia Weapons (L-O)

NUMBER=2-291499

BYLINE=Barry Wood

DATELINE=Calgary

INTERNET=YES

CONTENT=

VOICED AT:

INTRO: At the Group of Eight summit in western Canada agreement has been reached on an ambitious multi-year program to assist Russia in dismantling its unneeded stockpiles of nuclear, chemical and biological weapons. V-O-A's Barry Wood reports from Calgary, Alberta.

TEXT: The deal was concluded (Thursday) during a one- on-one meeting between President Bush and Russian President Vladimir Putin. Under the agreement, the United States and its summit partners will provide Russia with 20 billion dollars over ten years to help dismantle the weapons. The United States will provide ten billion dollars -- one billion dollars per year --while the Japanese, west Europeans and Canadians will collectively provide the rest.

Western nations have been concerned about the security of the Russian stockpiles, fearing that weapons of mass destruction could find their way into the hands of terrorists. In return for the aid, Russia will open its storage facilities -- including some submarine bases -- to western specialists. The aid money will also be available to dismantle weapons in other former Soviet republics.

Both Mr. Putin and Mr. Bush say they are united in the war on terrorism. During their one-on-one meeting, President Bush referred to Russia as an ally, a strong ally in fighting terror. Mr. Putin joined Mr. Bush in expressing concern about fraudulent accounting practices by some American corporations, saying that the global economy is affected by what happens in the United States.

At this year's summit it was agreed Russia will take a turn in the rotating chairmanship of these annual meetings of eight world leaders. Russia will host the Group of Eight summit in 2006 (following planned meetings in France, the United States, and Britain). (signed)

NEB/BW/FC