Russia has signed a deal with the European Union on terms for its entry into the World Trade Organisation.
EU Trade Commissioner Mr Pascal Lamy and Russian Trade Minister Mr German Gref clinched the deal at today's summit in Moscow, bringing to an end six-year talks.
Talks on Russia becoming the 168th member of the world trade body began with 160 problem areas six years ago and boiled down to three or four, with much haggling over the liberalisation of Russia's huge natural gas sector.
Russia has yet to conclude similar deals with other WTO members, including the United States.
The agreement with Russia's biggest trading partner gives a big boost to President Vladimir Putin's goal of agreeing the entry terms by the end of the year, but Russia could take years to pass all the laws needed to enforce WTO rules.
Foreign investors will scrutinise the deal hammered out by Mr Gref and Mr Lamy to see how long it will take before the conditions in the small print - designed to open up Russian business to more competition - become reality.
Russian energy and industry will also be bracing themselves to see how the agreement provides for liberalising energy prices - a measure the EU says is crucial before Russia can take its place at the WTO table.