COMPIEGNE (France), Sept 23: President Vladimir Putin sought to reassure France and Germany on Saturday they had nothing to fear from Russia’s growing economic clout and held out the prospect of more natural gas for Europe.

Mr Putin’s remarks at a joint news conference with French President Jacques Chirac and German Chancellor Angela Merkel followed a meeting which took place against a background of renewed western concern on energy security and aviation.

The meeting in an 18th century chateau, close to the spot where the armistice after World War One was signed, was billed by France as a chance to exchange views.

But Russia’s acquisition earlier this month of a five per cent stake in Europe’s flagship aerospace group EADS and standoff between Moscow and western oil firms put a sharp focus on Moscow’s ambitions to use its huge energy reserves to increase its global influence.

Mr Putin tried to allay concerns about the investment in EADS, saying Russia’s intentions were not ‘aggressive’.

Shorn of Soviet-era debt and flush with oil revenues, a newly confident Moscow has sought to create industrial champions and expand in energy and other strategic sectors in the European Union, notably aerospace and defence.

Europe is keenly interested in partnership with Russia, the world’s second biggest oil exporter.—Reuters