Berlin - The world is experiencing a "dramatic moment," Russian President Dmitry Medvedev said before meeting Chancellor Angela Merkel Tuesday ahead of the Group of 20 summit in London.

The Russian leader said the gathering in the British capital had to concentrate on decisions pertaining to "how we can lead our economies out of the precarious situation they find themselves in."

Merkel and Medvedev met with German business leaders before beginning their talks at the federal chancellery in Berlin.

The chancellor said everything possible had to be done to ensure there is no repetition of the current crisis.

Following the talks, Medvedev travels to London, where he is due to meet for the first time with US President Barack Obama.

German officials said the Berlin talks were designed to prepare for Thursday's G20 summit, where world leaders will consider efforts to revive the world economy.

Russia has been badly hit by the global downturn, as have all other leading economies. In particular, the slump in oil and gas prices has taken its toll on the Russian economy, a major supplier of energy to the West. (dpa)