trade organization

trade organization

Russia: "Counter-sanctions against EU will protect our manufacturers and markets," says Putin SOT, Vladimir Putin, President of Russia (Russian): "Accession to the World Trade Organization proved one more time that we are actively building an open econ

2d ago
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Russia: "Counter-sanctions against EU will protect our manufacturers and markets," says Putin SOT, Vladimir Putin, President of Russia (Russian): "Accession to the World Trade Organization proved one more time that we are actively building an open economy and that we are ready for very close cooperation with our partners worldwide." SOT, Vladimir Putin, President of Russia (Russian): "Not only did we start to do business under universal and international rules and get an opportunity to protect the interests of Russian companies, but we also assumed an obligation to decrease tariff protection and limit support for key sectors of our economy." SOT, Vladimir Putin, President of Russia (Russian): "The restrictions introduced against our country are nothing short of some of our partners renouncing fundamental WTO principles." SOT, Vladimir Putin, President of Russia (Russian): "Coming up with response measures, we think of our interests, development goals and protecting our producers and markets from unfair competition. Our main objective is to use one of Russia’s key competitive advantages, i.e. large domestic market." SCRIPT Russia joining the World Trade Organisation (WTO) proves the country is building an economy welcoming economic partnerships with other countries in the world, Russian President Vladimir Putin said during a Kremlin meeting in Moscow on Thursday. Putin however reaffirmed his conviction that the WTO's internationally-recognised principles of free competition and trade had been violated by some of Russia's partners. He added the EU sanctions have led to a responsive strategy which will strengthen Russia's national markets. The United States along with the EU recently intensified sanctions against Russia over the conflict in Ukraine. The newest sanctions targeted Russian companies such as Sberbank, Rostec, Gazprom, Lukoil and Rosneft, among others.