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Sanctions violate core WTO commitments, Russia says
July 24, 2014 - 17:00 GMT
Sanctions against Russia violate the core commitments of the World Trade Organization (WTO), the Russian delegation to the WTO told a meeting of its General Council, hinting that it would take matters to the group’s Dispute Settlement Body (DSB).
"We consider the recent US sanctions against Russian
companies as a challenge to our trade and economic interests
guaranteed by the WTO regulations," the delegation told the
General Council. "It looks like we are being forced to seek the
protection of our legitimate rights and interests through the
WTO mechanisms. Thus, the US actions might cause the
unfortunate chain of events that would ultimately undermine the
credibility of the multilateral trading system," it added. A
number of WTO member nations have imposed sanctions against
Russia following the tensions in east Ukraine, with the USA
going further last week by adding individuals and significant
companies to the off-limits list....
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Euromoney Institutional Investor PLC.
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