Russian membership in the International Monetary Fund alone could result in loans of up to $5 billion a year, although Administration officials said smaller amounts were more likely.
Grachev subsequently expressed doubt about Russian membership of the partnership.
The G7 meeting will also deal with the question of Russian membership of the IMF.
I also urged Yeltsin not to foreclose the possibility of future Russian membership.
This would first require full Russian membership in the I.M.F., which is expected late in April, and a "credible economic reform program."
The idea of Russian membership in Nato has, until recently, belonged in the realm of fantasy.
We have endorsed Russian membership of the WTO.
The Union, in principle, must also be open to Russian membership, although this seems a long way off at present.
The European Union, China and Japan have already signed off on Russian membership.
Mr. Yeltsin also appealed for Russian membership in the G-7, as the Group of Seven industrialized nations is known.