Stop the Untouchables. Justice for Sergei Magnitsky.

Moscow trade move on US agenda

Financial Times

Momentum is growing in Congress for legislation to normalise US trade relations with Russia in connection with its looming accession to the World Trade Organisation.

A bipartisan group of influential senators on Tuesday introduced a bill that would grant “permanent normal trade relations” status to Russia, calling for fellow lawmakers to approve the legislation over the next two months.

The bill – sponsored by Max Baucus, the chairman of the Senate finance committee – would also repeal the Jackson-Vanik amendment, a provision of US law designed in the 1970s to restrict trade with countries that restrict emigration.

“Jackson-Vanik served its purpose during the cold war, but it’s a relic of another era that now stands in the way of our farmers, ranchers and businesses pursuing opportunities to grow and create jobs,” said Mr Baucus. “We owe it to American workers and businesses to enable them to take advantage of the doors opening in Russia.”

The move comes amid persistent concerns harboured by many US lawmakers about Russia’s foreign policy – particularly with regard to Syria – as well as the pace of political and economic reforms, and human rights in the country.

In fact, Mr Baucus said he planned to introduce an amendment to the PNTR legislation called the “Magnitsky” bill – which is opposed by Russia – allowing the US to freeze assets and deny entry to Russian officials deemed responsible for human rights abuses.