Senators introduce bill to end trade curbs on Russia

article from The Raw Story
By Agence France-Presse
Tuesday, June 12, 2012 17:27 EDT

Senators introduce bill to end trade curbs on Russia
Some U.S. Senators have introduced legislation to get rid of trade restrictions on Russia and give them a permanent normal trade relations status.

Actually the are supposed to do this because Russia has been approved to join the World trade organization.

Democrat Max Baucus (Montana), who chairs the Senate Finance Committee said this could create thousands of jobs !!

Apparently a law from 1974 is in the way.

With all the hoopla over Iran and Syria, maybe Russia is really a "friend" after all ?

Russia is entering the WTO later this summer the article says.

The story mentions that normal trade status has been consistently granted on a year to year basis since 1992.

Hmmm.

WASHINGTON — A bipartisan group of US senators introduced legislation Tuesday that would scrap a decades-old law imposing trade restrictions on Moscow, saying it’s necessary as Russia joins the WTO.

Washington’s former Cold War adversary has been given the green light to join the World Trade Organization, which means the Russian and US governments will need to grant each other permanent normal trade relations (PNTR) by the time the accession is complete.

Washington would need to lift a 1974 law, the Jackson-Vanik amendment, under which normal trade relations are granted to Russia only on an annual basis.

The article points out some "concerns" also.

Does anybody know of any "trade restrictions" currently on Russia ?

What's the "politics" behind all this ?

Breaking Political News


From 2011

Biden urges repeal of Jackson-Vanik amendment

From 2010

The Bell Tolls for Jackson-Vanik Amendment?

From 2009

Congress has discussed the possibility of graduating Russia from Jackson-Vanik several times in the past decade

From 2005

Republicans on Capitol Hill are at odds on whether Congress should repeal a Cold War trade measure...

Dont expect politicians to do anything any time soon.

Originally posted by xuenchen
With all the hoopla over Iran and Syria, maybe Russia is really a "friend" after all ?

it could be a 1984 type scenario where the illusion they are our enemy is perpetrated to push agendas.

or the timing more then likely is convienent, but that's not my main point.

the enemy of my enemy is my friend.

the Russians are using us momentarily, the same way we are using them if the first statement is false.

reply to post by alfa1


The story says they have to this time.

Because Russia is joining the WTO.

I wonder what happens if they don't.

In the past, was there any actual legislation introduced ?