Russia faces Western pressure over Georgia

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Kremlin chief Medvedev said he did not want a new Cold War with the West but was not scared of one. And he told Europe, a major consumer of Russian oil and gas, that it had to decide what sort of ties it wanted with Moscow.

"The ball is in the Europeans' court. If they want a worsening in relations, they will get it of course," he told France's LCI television. "If they want to maintain strategic relations, which is in my opinion totally in the interests of Russia and Europe, everything will go well."

Europe and Russia are major trading partners and the conflict has rattled financial markets as well as raising concerns over the stability of a key oil and gas transit route from the Caspian Sea.

(Editing by Richard Balmforth)

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