23.03.2022, 10:10
Russia Cannot be Excluded from the World Trade Organization
Source: OREANDA-NEWS
OREANDA-NEWS Western countries are unlikely to succeed in removing Russia from the World Trade Organization, as they will face major procedural problems, said Maxim Medvedkov, former director of the Department of Trade Negotiations of the Ministry of Economic Development of Russia, the head of the Department of Trade Policy of the Higher School of Economics. This is stated in the article of RIA Novosti.
Medvedkov said that even if the process begins, among the 164 countries in the WTO, will have to hold two votes, with two-thirds of the vote for Russia's exclusion from the WTO, and in the second vote - three-quarters. According to Medvedkov, this is unlikely to be possible.
Earlier it was reported that in March, the U.S. House of Representatives voted for a bill to initiate a review of Russia's trade concessions and suspend its membership in the organization.
The World Trade Organization is the only international platform to protect the economic interests of the state.
Medvedkov said that even if the process begins, among the 164 countries in the WTO, will have to hold two votes, with two-thirds of the vote for Russia's exclusion from the WTO, and in the second vote - three-quarters. According to Medvedkov, this is unlikely to be possible.
Earlier it was reported that in March, the U.S. House of Representatives voted for a bill to initiate a review of Russia's trade concessions and suspend its membership in the organization.
The World Trade Organization is the only international platform to protect the economic interests of the state.
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