Russia’s President Vladimir Putin says Russia will retaliate if western countries restrict Russian overseas investment. He was speaking during his first official visit to the United Arab Emirates, where discussions are also expected to cover a Middle East

“We were looking forward to this visit; our countries are tied by long-term collaboration. We hope that in the course of your visit we will manage to reach a new level of co-operation in different spheres,” the UAE president stressed.

“Russian companies are very interested in co-operation in investment, money operations and transport. Our military technical collaboration also has good prospects,” Vladimir Putin said.

At a press-conference following his talks with the President of the UAE, Sheikh Khalifa bin Zayed Al Nahyan, President Putin said that the U.S. had passed a law limiting foreign investment, and that other countries were considering similar measures.

“Of course, if this continues, we will be forced to take necessary measures to protect our interests,” he stressed.

Mr Putin noted that this was a worrying trend for Russia, as it could affect the free market economy.

Meantime, Russia still sees an opportunity to reach a compromise on the deployment of anti-ballistic missiles in Europe. President Putin said he is convinced that Russia and the U.S. may have a different approach to the problem that would not lead to confrontation. He expressed hope that both countries would try to find a solution to the problem.

“I do not think that we have missed our chance. We do have a healthy amount of optimism about the situation. We do and will always have disagreements because our relationship has many sides as well as the various partnerships in different areas. We have different approaches to situations in the world and even in bilateral relationships. It is natural; the question is how and in what manner we will solve the problems,” he said.

Diplomatic relations between the UAE and Russia have existed since 1971, but never before has a Russian or a Soviet leader visited the Emirates.

President Vladimir Putin arrived in Abu Dhabi early this morning. First, he visited a special exhibition of symbols of  Russian history, power and wealth that have been brought to the UAE from the Moscow Kremlin. Items and weapons dating back to the Russian tsars are on display.