Tuesday, September 16, 2014


Russia

U.S. President Obama Signs Document On Trade Relations With Russia

U.S. President Barack ObamaU.S. President Barack Obama
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U.S. President Barack Obama
U.S. President Barack Obama

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U.S. President Barack Obama has signed a declaration formally granting Russia "permanent normal trade relations" after U.S. lawmakers earlier this month voted to lift Cold War-era trade sanctions on the Kremlin.

The ceremonial signing of the declaration comes one week after Obama signed the measure into law.

"The Russian Federation has been found to be in full compliance with the freedom of emigration requirement [under the 1974 Jackson-Vanik amendment]," Obama said when signing the document on December 20. 

By permanently exempting Moscow from trade barriers imposed by the Jackson-Vanik Amendment, the United States will look to benefit from increased commerce with Russia afforded by its August entry into the World Trade Organization. 

Based on reporting by Reuters and Lenta.ru

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