Press Esc to close
Saturday 01 November 2014
News updated at 2:02 AM IST
Weather
Max: 28.4°C
Min : 18°C
In Bangalore
Partially cloudy

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
A view of the statue of Sardar Vallabhbhai Patel on the occasion of his birth anniversary...

A view of the statue of Sardar Vallabhbhai Patel on the occasion of his birth anniversary...

Congress President Sonia Gandhi and Rahul Gandhi paying tribute to former Prime Minister...

Congress President Sonia Gandhi and Rahul Gandhi paying tribute to former Prime Minister...

Artists perform during a function on the occasion of birth anniversary of Sardar...

Artists perform during a function on the occasion of birth anniversary of Sardar...

Members of Thamizhar Vazhvurimai Koottamaippu during a protest against Sri Lankan court's...

Members of Thamizhar Vazhvurimai Koottamaippu during a protest against Sri Lankan court's...

Indian cricket players during their practice session at barabati stadium in Cuttack...

Indian cricket players during their practice session at barabati stadium in Cuttack...

Delhi Police band performs at India Gate near Amar Jawan Jyoti to salute Sardar...

Delhi Police band performs at India Gate near Amar Jawan Jyoti to salute Sardar...

Army soldiers patrolling after an IED was recovered in a gas cylinder near the Circuit House...

Army soldiers patrolling after an IED was recovered in a gas cylinder near the Circuit House...

Tourist take pictures from a boat as people bath in the Ganges river in Varanasi...

Tourist take pictures from a boat as people bath in the Ganges river in Varanasi...

Devendra Fadnavis being sworn-in as the new Maharashtra Chief Minister by Governor...

Devendra Fadnavis being sworn-in as the new Maharashtra Chief Minister by Governor...

A camel herder sits as he feeds his camels at the annual cattle fair in Pushkar, in the Rajasthan...

A camel herder sits as he feeds his camels at the annual cattle fair in Pushkar, in the Rajasthan...

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