Press Esc to close
Tuesday 21 April 2015
News updated at 3:16 PM IST
Weather
Max: 33.4°C
Min : 21.6°C
In Bengaluru
Sunny day

US Congress votes to end trade curbs on Russia

Washington, Dec 6, 2012, AFP:

The US Congress voted on Thursday to end Cold War-era trade restrictions on Russia after it joined the WTO, but provoked Moscow’s ire by attaching a measure targeting human rights abusers.

Following approval by the House of Representatives last month, the Senate voted 92-4 in
favour of establishing permanent normal trade relations, or PNTR, with Russia by abolishing a 1974 law that required granting normal trade ties with Moscow only on an annual basis.

The legislation, which also grants PNTR to Moldova, now goes to the White House for President Barack Obama’s signature.

The repeal of the archaic legislation reflects Russia’s ascension to the World Trade Organisation, and US lawmakers noted that US businesses stands to gain if Washington grants PNTR to its former Cold War rival.

“This legislation marks a pivotal step forward in our relations with Russia and Moldova,” Republican Senator Orrin Hatch said in a statement immediately after the vote.

“Strengthening our bilateral trade relations with these nations will provide access to new markets for American businesses, farmers and ranchers, expand our economy here at home, and create much-needed jobs,” he added.

“At the same time, this measure includes strong enforcement tools to ensure Russia lives up to its international trade obligations.”


Go to Top

Photo Gallery
Minister U T Khader and MLA Vasanth Bangera stopping Minister B Ramanath Rai who got angry on ...

Minister U T Khader and MLA Vasanth Bangera stopping Minister B Ramanath Rai who got angry on ...

Yuvraj Singh of Delhi Daredevils plays a shot during their IPL match against Kolkata Knight Rider...

Yuvraj Singh of Delhi Daredevils plays a shot during their IPL match against Kolkata Knight Rider...

Police force at a large number being deployed for Left Front activists 'March to Lalbazar Kolkata...

Police force at a large number being deployed for Left Front activists 'March to Lalbazar Kolkata...

Kolkata Knight Riders players celebrate the wicket of J P Duminy (C) of Delhi Daredevils during ...

Kolkata Knight Riders players celebrate the wicket of J P Duminy (C) of Delhi Daredevils during ...

Traditional elephant fights, elephant races, tug of war and dances mark this festival which coincide

Traditional elephant fights, elephant races, tug of war and dances mark this festival which coincide

Villagers struggle to get drinking water from an almost dried well near Tansa dam, in Shahapur ...

Villagers struggle to get drinking water from an almost dried well near Tansa dam, in Shahapur ...

Prime Minister Narendra Modi at the foundation stone laying ceremony of Dr. Ambedkar International

Prime Minister Narendra Modi at the foundation stone laying ceremony of Dr. Ambedkar International

Narendra Modi talking with BJP veteran LK Advani during 'Garib Kalyan Yojana',...

Narendra Modi talking with BJP veteran LK Advani during 'Garib Kalyan Yojana',...

A view of the Kedarnath Shrine before it reopens on April 24 for general public...

A view of the Kedarnath Shrine before it reopens on April 24 for general public...

Snowed down surroundings of Kedarnath Shrine before it reopens on April 24 for general public...

Snowed down surroundings of Kedarnath Shrine before it reopens on April 24 for general public...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523