Russia's Energy Minister Alexander Novak insisted on Tuesday that, despite difficulties with the EU, "economic and bilateral cooperation" with Russia should develop. Novak made his comments at the 8th Intergovernmental Russian-Spanish Mixed Commission on Economic and Industrial Cooperation in Madrid, where he co-chaired a meeting with Spanish Minister of Industry, Energy and Tourism Jose Manuel Soria. The Russian energy minister pointed out how trade between Spain and Russia had doubled over the five years leading up to 2014, where trade "reached the €11 billion ($12.36 billion) level" and noted the decline since the sanction regime was enforced by the EU.
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