Senate passes Russia PNTR legislation

Europe

Friday, December 07, 2012

The U.S. Senate on Thursday passed the 2012 Russia and Moldova Jackson-Vanik Repeal Act by a vote of 92-4, clearing the way for U.S. companies to take full advantage of Russia’s recent entrance into the World Trade Organization. Once signed by President Obama, the United States will grant Russia permanent normal trade relations (PNTR). Russia is the world’s ninth-largest economy, but ranks only 31st as a market for U.S. goods exports. “We welcome today’s news and appla...

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