But, as I have told officials in Moscow many times, Russia will attract the investment it needs only if it creates the right business climate to spur more of you to invest money there. Ultimately, Russia's future depends on the decisions that Russians must make. Russia is on the eve of a historic election. Decades from now, historians will not only note the election, they will judge the leaders based on their performance in office. There has been much talk of reform, but talk is not what you or your Russian counterparts or the Russian people really need.
Action is needed.
If Putin is elected as expected, his tenure will be judged in large measure on his willingness and his ability to overcome resistance to reform. Russian officials need to continue to hear from all of you about what it is that is needed, including tax reform, banking reform, and WTO-conforming trade legislation. I know that many of you have experienced very serious problems in doing business in Russia. I want to assure you that our very distinguished ambassador in Moscow, Jim Collins, and I are here to continue to act as your advocates in creating a level playing field and user friendly environment for American business there. I know that if there is any way in which we can be of help to you, you will, as in the past, not hesitate to contact us.