On Friday, President, Dmitry Medvedev had a discussion with the Chinese leaders in regard to making Yuan an exchangeable reserve currency. This move comes in the wake of the country's efforts to shift global reserves assets into the currencies of budding markets.

Russian President, Dmitry Medvedev has raised doubts over the future of BP, stating that the oil giant might have to face extinction after the Gulf of Mexico oil spill.

In an interview with the Wall Street Journal, he explained the spill as a wake-up call, and said optimistically that BP can carry the load of all the losses.