Russia risks delay in joining WTO: US trade official
Russia is risking a delay in joining the World Trade Organization if it reneges on trade commitments, a US trade official said on Monday.
"If Russia decides to step back from those accession commitments that it has already made, it will further delay its aspirations for joining the WTO," said the official, who spoke on condition of anonymity, after Moscow announced it would break some accords.
"By its recent actions, 'Russia is putting its aspirations at risk,'" the official said, quoting an August 13 statement by President George W. Bush that criticized Russia's military actions in Georgia.
Russia decided earlier Monday to break off some trade agreements reached during negotiations to join the WTO, as relations between Moscow and the West grew increasingly tense.
"Russia intends to inform various WTO partners of its withdrawal from accords that contradict its interests," First Deputy Prime Minister Igor Shuvalov told Prime Minister Vladimir Putin in a meeting of the inner circle of cabinet ministers, as quoted by Interfax.
In response, Putin gave his assent, saying: "That is reasonable."
Putin, who stood down as president in May but remains highly influential, went on to reiterate previous Russian objections, notably the effect of WTO rules on agriculture, while affirming that membership remained a goal.
Russian officials did not specify which accords would be scrapped.
The comments come against a background of deteriorating relations between Moscow and the West over Russia's military surge into southern neighbor Georgia and support for separatists there, as well as over US plans for new missile defence facilities in Europe.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.