20-Jan-12 9:00 AM EST
NASDAQ, 01/19 "US Seen Lifting Trade Restrictions On Russia"
WASHINGTON -- A senior World Trade Organization official said Thursday that 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.
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.
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Source: NASDAQ
http://www.nasdaq.com/article/us-seen-lifting-trade-restrictions-on-russia-20120119-01370
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