In the aggregate, the higher price received by the Fundwill total approximately C$50 million annually, which will modestly reduceBRPI's cash flows. executives pressed Russiaon its rule of law and the tight grip it keeps on its resources. Russia has a trade turnover of just $36 billion with theUnited States and -- as President Obama described it -- thetrade volume is virtually unchanged since the Cold War at onlyone percent of U.S trade with the world, on par with U.S tradewith Taiwan "The level of cooperation is shamefully low. We should beashamed of the size of mutual investments," said Russian oil andmetals magnate Viktor Vekselberg. Obama said in order to increase trade: "...we have topromote transparency, accountability and rule of law.[ID:nL7116966]. Klaus Kleinfeld, chief of Alcoa (AA.N), who addressed theaudience of some 300 businessmen before Obama and RussianPresident Dmitry Medvedev joined them, said the rule of law wascrucial to successful business relationships. "One thing -- and I would call that the big white elephantin the room -- is the foundation which we all need to havesuccessful business, and that is the rule of law And that's notnegotiable," he said U.S Commerce Secretary Gary Locke met on Monday with topU.S businessmen "They (U.S.

businessmen) emphasised the need for greaterpredictability, stability, transparency and the rule of law," hesaid, adding that America's "high ethical standards" would leadU.S companies to success in Russia over time. SETBACKS U.S firms have faced painful setbacks in Russia, includingplans by ExxonMobil (XOM.N) to export gas to China, Chevron's(CVX.N) hurdles in expanding a pipeline from Kazakhstan andAlcoa's struggle with red tape in a Russian region[ID:nL6294699]. "We want the (Russian) authorities to make amendments to thesubsoil law," said Neil Duffin, head of ExxonMobil projectdevelopment, referring to legislation which bars foreigners frominvesting in large resource deposits. Vladimir Dmitriev, the head of Russia's state bank VEB,fired back with claims of discrimination against Russian firms.

"Today we heard a reproach aimed at the Americanadministration voiced by Russian companies," he said. "They areclearly being discriminated against in the United States." The businessmen placed hopes for lifting trade barriers onthe revival of the Russia-U.S inter-governmental commission. Moscow and Washington held regular business dialogues in the1990s through the so-called Gore-Chernomyrdin commission, but itwas dissolved this decade as political relations between the twostates chilled. Russian steel and coal barons, which expanded aggressivelyin the United States before the crisis sapped their cashflow,complained about new tougher U.S trade and businessregulations. Vladimir Lisin the main owner of steel major NLMK (NLMK.MM),said he had to fire 600 people and halve production at two U.S.plants because of new tougher certification rules for finishedsteel products from outside the United States "We think U.S authorities must review and amend thislegislation," he said.

Igor Zyuzin, owner of steel and coal firm Mechel (MTL.N),which owns U.S Bluestone Coal, joined the volley of criticism. "The new administration has announced substantialrestrictions on activities of coal firms in the United States...This raises serious concerns from coal companies and theauthorities of certain U.S states," he said. (Reporting by Gleb Bryanski, Dmitry Sergeyev, Simon Shuster,Katya Golubkova and Alfred Kueppers, writing by DmitryZhdannikov; editing by Elaine Hardcastle, + 7 495 775 12 42,) Stocks Regulatory News China Russia. TORONTO--(Business Wire)--BPO Properties Ltd. announced today that its 2009 second quarter financialresults will be released after the market open on Wednesday, August 5, 2009.Analysts, investors and other interested parties are invited to participate inthe company`s liveconference call and webcast on August 5 at 9:00 a.m.