New Delhi: In a statement seen as a dampner on India's efforts, Russia today said it does not favour veto powers for new members of the expanded UN Security Council (UNSC) even as the two countries today (Dec 3, 2004) agreed to work out a Defence co-operation pact to protect intellectual property rights on equipment supplies. They also decided to "actively cooperate" in counter-terrorism efforts.

The two sides agreed to continue cooperation in nuclear energy incorporating "innovative technologies" to ensure energy security, with due regard to their commitments to non-proliferation norms, a Joint Declaration signed by visiting Russian President Vladimir Putin and Prime Minister Manmohan Singh said.

At a joint press conference with Singh, Putin fully backed India's candidature for a permanent seat in an expanded United Nations Security Council, saying it was a "deserving and strong" candidate but did not favour veto rights for new members.

"We believe that that it would be absolutely unacceptable to erode such existing tools of the UN because the organisation will lose its weight and its role, changing into some discussion club, some new addition of the League of Nations," Putin said in reply to a question whether Russia supported India's case for veto powers for new permanent members of an expanded Council.

Apparently opposing any dilution of the rights of the current five permanent members, he felt veto for new members would be a "destructive approach."

He however felt flexibility has to be shown taking into account the interest of all the participants in the process.

During over three hours of restricted and delegation level talks, both sides agreed to reach an agreement within four months of the New Year on intellectual property rights of all future supply of defence equipment.