Obama imputes global financial crisis to 'a culture of irresponsibility'

U.S. President Barack Obama said on Monday during his first visit to Russia that the global financial crisis resulted from a culture of irresponsibility in the United States, Europe and elsewhere, and urged efforts to promote an era of responsibility.

We need to spend less time thinking about who is to blame and more time working together to do what needs to be done to get all of our economies moving in the right direction, Obama said in an interview with Russian newspaper Novaya Gazeta.

We're called upon to recognize that the free market is the most powerful generative force for our prosperity, but it is not a free license to ignore the consequences of our actions, he said with intention to dismiss suggestions that Washington was responsible for the ongoing global economic crisis.

Obama also pledged to affirm his support for Russian President Dmitry Medvedev's initiative to strengthen the rule of law in Russia.

Russian President Dmitry Medvedev said he hoped this summit as a result of our conversations…we will close a number of difficult pages in Russian-American relations and turn a new page.

Earlier Russian Deputy Foreign Minister Sergei Ryabkov greeted Obama, his wife Michelle and their two daughters as they stepped from Air Force One at Moscow's Vnukovo airport.

During the two days of Russia-US summit, officials and business leaders will discuss issues covering arms controls, Afghanistan, military cooperation and new investment.

Business leaders traveling with Obama want to use the visit to boost trade and investment. Russian trade with the United States was just $36 billion in 2008, the same amount as with Poland, and investment has lagged that of European competitors.