Skip to comments.New era in Russia-US trade relations: Obama scraps Jackson-Vanik amendment
Posted on 12/21/2012 10:40:31 AM PST by Perdogg
President Obama has abolished the Jackson-Vanik amendment thus awarding Russia permanent normal trade relations status, which opens a new era in trade relations between the two countries. The Russian Federation has been found to be in full compliance with the freedom of emigration requirement, Obama proclaimed, adding that the articles of the 1974 law were no longer applicable to Russia. Jackson-Vanik affects trade by denying most favoured trading nation status to countries which unlawfully restrict emigration and violate other human rights. In particular it results in higher tariffs imposed on some goods and services and an outright ban on involvement in specific economic sectors.
The decision now allows US business to enjoy all the benefits of trade with Russia as a full member of the World Trade Organization.
(Excerpt) Read more at rt.com ...
I'll convey to comrade vladimir.
Great! Bring on the Kalishnikovs!.....
I want one of those funky trucks that they use to haul ICBM’s around.