American ShipperShippingTrade and Compliance

Obama signs Russia’s PNTR status into law

· Monday, December 17, 2012

   President Obama on Friday signed legislation that grants Russia permanent normal trade relations (PNTR).
   The 2012 Russia and Moldova Jackson-Vanik Repeal and Sergei Magnitsky Rule of Law and Accountability Act will allow the United States to apply the World Trade Organization agreement to Russia, offering new trade opportunities for U.S. businesses and allowing the United States to address trade disputes with Russia in the WTO system, if necessary.
   “The United States strongly supported Russia’s accession to the WTO, because it is in the interest of our exporters and the Americans they employ to bring Russia more fully into the global trading system,” said U.S. Trade Representative Ron Kirk in a statement. “With the signing of this legislation, American businesses and workers are closer to enjoying the full economic benefits of Russia’s WTO commitments.”

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.