A senior World Trade Organization official said that U.S. Congress is considered likely to remove Cold War-era trade restrictions on Russia in order to benefit from the country's entry to the global trade body, according to Dow Jones Newswires.
Chiedu Osakwe, the WTO's director of accessions, said the U.S. is the " undisputed leader" in global trade policy and was key to Russia's successful admission to the WTO last month.
"There is great confidence that when the moment is right, the United States will do what it has to do," Osakwe told the Washington International Trade Association.
On the day WTO members accepted Russia's bid in mid-December, U.S. Trade Representative Ron Kirk said in an interview that the Obama administration would seek to restore "permanent normal trade relations" with Russia during the first quarter of this year. The goal is to win congressional approval before Moscow completes the implementation process, so that U.S. companies aren't denied the same access and protections as competitors in trade with Russia.
In 1974, the U.S. effectively denied the Soviet Union normal trade status due to emigration restrictions through an measure called Jackson-Vanik. Those restrictions remain in place with Russia, though they have regularly been waived.
Revoking the measure could face resistance from both parties on the Hill, with key lawmakers on trade issues recently warning that Russia must agree to high standards before joining the WTO. But Kirk has expressed confidence that Congress will back the move.
