Russia blasts the WTO to free global trade from unfair sanctions

0 28

December 11, 2017 – FRN – 

RIA News – translated by Inessa Sinchougova 

The head of the Ministry of Economic Development, Maxim Oreshkin, called economic sanctions an aggressive form of protectionism and urged members of the World Trade Organization to put an end to this phenomenon.

“Now we have enough evidence that proves that one reason for sanctions against WTO partners is the protection of their companies and preferences for them in the domestic market.We must make the world trade system free from this insulting phenomenon,” Oreshkin said during the speech at the WTO ministerial conference.

According to the minister, the situation in world trade remains difficult, although its growth exceeded 3% this year. He noted that openness is hampered by the expansion of isolationist and anti-competitive practices. 

Constantly changing trade structure, according to Oreshkin, requires countries to retaliate, because some of the previously adopted rules are no longer relevant. 

“In order to withstand turbulent times, the WTO must go hand in hand with the current global reforms and adapt to the current realities,” Oreshkin said. 

At around 7 minutes into this 2014 video, President Putin states that it took Russia 19 years to figure out and agree on all the intricacies of WTO rules and guidelines. Especially so as it pertained to Ukraine, given it was Russia’s main trading partner. Meanwhile, in 2014, the US simply “walked in via a back door with their goods and services. “

“Nobody asked us, we never agreed to this.” – Putin.

Inessa Sinchougova is an Editor and Journalist at Fort Russ News, as well as a research fellow and translator of the Belgrade based think-tank, the Center for Syncretic Studies. She was educated at Victoria University of Wellington (New Zealand), in the field of Political Science and was previously employed in Marketing and Communications Strategy for a Multi-National Corporation. She runs a popular YouTube channel for translations of key Russian Foreign Policy figures and appears regularly on other alternative media channels. If you like her work, you can support her Patreon here.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.

Get real time updates directly on you device, subscribe now.

Comments