Stop the Untouchables. Justice for Sergei Magnitsky.

US moves closer to Russia trade bill

Financial Times

The US Congress is set to take a big step towards approving normal trade relations with Russia, brushing off geopolitical tensions to deliver a victory for large US exporters such as Caterpillar and General Electric.

The Ways and Means committee of the House of Representatives is expected to vote on a bill, probably on Thursday, that would allow US companies to reap the benefits from Russia’s looming accession to the World Trade Organisation. The so-called Magnitsky bill – which seeks to punish Russian officials for human rights abuses – will be attached to the legislation.

With both Republican and Democratic leaders on the panel endorsing the package, it should pass comfortably. This would bolster the chances of it being enacted before the August congressional recess – as its supporters are hoping for – though it may not happen until September or later in the year.

“The prospects have improved dramatically”, said Ron Pollett, chief executive of GE Russia, who was in Washington last week to lobby for the bill. “It’s a question of when, not if.”
The bill would unwind the Jackson-Vanik amendment, a Cold War relic that barred trade with the Soviet Union for restricting Jewish emigration. Its provisions have routinely been waived, but its presence has continued to sour US economic relations with Russia.