Moscow - The splurge of oil profits feeding Russia's years of growth has turned sticky with falling production and energy prices.

This double whammy is threatening to undercut the government's economic policy as the industry that is its main source of revenue takes a battering from the country's worst financial crisis in a decade.

Scooping huge oil windfalls into state coffers over the oil industry's boom years from 1999 to 2004 has been at the root of Russia's ideology under former President Vladimir Putin.

The surplus helped pay back a national debt as part of a therapy to recover from the humiliation an impoverished Russia suffered by the Soviet collapse and then move toward a resurgent foreign policy.

Moscow - Russia watchers were long curious to hear President Dmitry Medvedev's first national address, originally scheduled for October 23. Now, interest has only grown, after a last-minute decision was made to delay it by almost two weeks.

Speculation about the speech, scheduled for November 5, is rampant. For the past eight years, it has been delivered by former president - now Prime Minister - Vladimir Putin.

The president's office provided no reason for the delay. Igor Shuvalov, Putin's chief economic advisor and deputy premier, told daily Vedomosti that Medvedev needed to personally revise the draft.

National media initially speculated that the global financial crisis forced a change to the content of the speech.

Moscow - The vice president of Lukoil, Russia's largest private oil major, said Wednesday it may be best for Russia to join OPEC in production cuts to bolster oil prices slumping amid the financial turmoil.

Leonid Fedun said joining OPEC could be "only good for Russia."

His comments surprised the industry Wednesday. Previous attempts for Moscow to align its policy with OPEC fell through when private energy firms, like Lukoil, increased oil deliveries, analysts said.

Moscow  - Russia's lower house of parliament on Wednesday ratified friendship treaties with South Ossetia, over which Russia fought a war with Georgia, and Georgia's other breakaway region of Abkhazia.

The treaties provide for Moscow to base thousands of troops in the two separatist regions, which it recognized as independent states after the five-day war in August.

Lawmakers in the State Duma unanimously voted in favour of the accords formalizing diplomatic, business and military relations with the regions.

Russian Deputy Foreign Minister Grigory Karasin said Wednesday that Moscow planned to station 3,800 troops in each area to protect against a Georgian attack.

Moscow  - Libyan leader Moamer Gaddafi will travel to Moscow on Friday for his first visit since 1985, the Kremlin said Wednesday.

Gaddafi is to discuss weapons purchases and energy ties with Russian President Dmitry Medvedev, Russia's Foreign Ministry said.

Foreign Minister Sergei Lavrov said he had "no doubt" Gaddafi's visit would be a success.

Moscow has made a push to renew Soviet-era relations with the North African state since President Vladimir Putin traveled to Tripoli in April.

Moscow  - Russia - which has a military cooperation agreement with Syria - Monday joined those co