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Sanctions violate core WTO commitments, Russia says

July 24, 2014 - 17:00 GMT Location: New York

KEYWORDS: Sanctions , WTO , aluminium , nickel , energy , UC Rusal , Norilsk Nickel , Russia , US

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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