Ministry of Economic Development: countries imposing sanctions against Moscow are seeking Russia’s withdrawal from the WTO.

The countries imposing sanctions against Moscow are seeking the withdrawal of the Russian Federation from the World Trade Organization (WTO) and are doing this to isolate Russia from global trade. This was told to Izvestia at the Ministry of Economic Development on Friday, May 6.

“We block such attempts. Russia has been and will remain a responsible participant in the international trading system,” the Ministry of Economic Development noted.

The WTO gives serious preferences for member countries, Grigory Ostapkovich, director of the HSE Center for Market Research, reminded Izvestia. For example, we are talking about tariff preferences in export-import relations. Members of the world organization have the opportunity to import their products to other countries included in the WTO, without fees.

Back in December 2021, the office of the US Trade Mission reproached Russia for allegedly expanding state control over the economy due to the import substitution program. Washington was concerned that Moscow “continues to adopt and implement localization measures to provide benefits to both goods and services of domestic production.” The Kremlin and the Russian Foreign Ministry said that the country does not violate WTO rules.

On March 16, 2022, the United States announced its readiness to tighten anti-Russian sanctions in the economic sphere. The next day, the House of Representatives approved an initiative to revoke the status of a country with the most favored nation treatment from the Russian Federation.

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