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The Russian President was addressing a direct line broadcast into Russian homes.
Putin says dialogue is the best way to resolve the crisis and hoped there would be no need for troops.
Major funds would be allocated toward hydrocarbon exploration in Siberia.
Lavrov and Yi also discussed the upcoming visit of Russian President Vladimir Putin to Shanghai in May.
German DAX had fallen by 0.89 per cent, the French CAC 40 by 0.91 per cent and London’s FTSE 100 by 0.70 per cent.
The two sides are expected to ink a 30-year deal to supply pipeline gas to China during Putin's May visit.
But the Deputy Minister of Economic Development said it was unlikely that the economy would fall into recession.
The reserves for March dropped $7.2 billion, or 1.5 per cent, said the Central Bank.
The Russian President said Moscow appreciates the 'balanced line" toed by Pretoria.
Bilateral financing for the Russian Black Sea Fleet has effectively been stopped.
