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Russia to raise issue of US sanctions in WTO

Russia is planning to raise the question of U.S. sanctions in the World Trade Organisation (WTO), Russian Minister of Economic Development Alexei Ulyukayev said on Saturday, July 19, after a meeting of the G20 trade ministers in Sydney.

"We will certainly raise this issue in the WTO, in its General Council, most likely using dispute resolution procedures. We have so far refrained from such steps in hope that our American partners would assume a more balanced position. Unfortunately, our American colleagues failed to demonstrate that, leaving us no choice," Ulyukayev said.

The minister said he was not prepared to discuss how serious the consequences of the American sanctions will be for the Russian economy.

"We need to analyse this very carefully. The negative effect may not be so big. But what is important is that our American partners have overstepped a certain line and this cannot be left unnoticed. It is very important to form a qualitative climate for investors so that they could work for the benefit of the Russian economy even under sanctions," Ulyukayev said.

[Source: Itar Tass, Sydney, 19Jul14]

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