An event, which without exaggeration may be regarded as historic, was the participation by the Russian president in the general economic discussion. It will be recalled that many observers were previously skeptical about the term G-8, preferring to call the organization G-7 + 1, because the acting Russian head of state had never participated in the first day - traditionally devoted to discussions of the most pressing world economic development problems. The Russian president would join in on the second day for a general political discussion.

Of course, given the present state of the Russian economy, it can hardly be said that it will play - within the next few years - a serious role in economic decision-making at G-8 summits. Mr. Putin's participation in the discussion is more akin to a credit account and a promise of support for both the Russian president and the policy course he is conducting. The same can be said about the G-8 decision to hold the 2006 summit in one of Russia's cities.

In this respect, one should commend the friendly attitude on the part of Germany, which had been scheduled to host the 2006 summit, but stepped aside to make way for Russia. Observers are inclined to believe that more likely than not, the summit will take place in Vladimir Putin's city of birth, St. Petersburg, because the normal practice is not to hold the meetings in capitals.

The other decision is beneficial for Russia in a practical rather than a moral sense. It is no secret that the signing of the Russian-U.S. Strategic Potential Reduction Treaty was motivated by the Russian side, among other things, by the impossibility of constantly keeping on the ready about six thousand nuclear munitions and their vehicles.

Now that the G-8 has created a fund for the elimination of Soviet weapons of mass destruction - allocating $20 billion to the project - there is no more question of where to get the money for the dismantling and destruction of more than 3,000 outmoded nuclear warheads.

This decision takes much of the burden off both the federal budget and that of the Defense Ministry. The monies thus saved may be used for more pressing needs, like the creation of enlistment-based units and subunits in the army and the navy. Moreover, one should not forget Russia's international commitments regarding the destruction of Soviet chemical weapons, a program that was always short of money. Now the problem is as good as solved.

It will be noted that Russia inherited the idea for the industrially advanced nations to allocate $20 billion to aid in the elimination of Soviet weapons of mass destruction from Italian Prime Minister Silvio Berlusconi, who suggested it at the Russia-NATO Rome Summit in late May. It is truly unprecedented that it has taken the G-8 just under one month to implement the plan.

Thus, the Canadian summit has become a veritable Russian breakthrough to the informal club of the most influential world states. The decisions approved by the Summit indicate that the leading powers both recognize Russia's role and place in the existing world system and support its reforms.