Russia is planning to complain to the World Trade Organization, or WTO, about sanctions imposed? by the U.S. over Russia's perceived failure to help de-escalate the ongoing crisis in Ukraine, media reports said.
The U.S. on Wednesday let rip with its third and harshest round of sanctions against Russia, targeting two of Russia's biggest banks, two energy companies and eight defense companies.
"Needless to say, we will raise this issue at the WTO General Council and, most likely, will use its dispute resolution procedures," Russian Economic Development Minister Alexei Ulyukayev was quoted as saying Saturday by ITAR-Tass.
"Until now we have refrained from taking such steps in hopes that our American partners would take a more balanced position. Unfortunately, our American colleagues failed to demonstrate this, and we have been left with no other choice," Ulyukayev said after a meeting of the Group of 20 trade ministers in Sydney. ?
The White House's measures, while careful to minimize damage to the U.S. and world economies, will raise the cost of borrowing for the sanctions-hit companies and Russian enterprises in general while deepening the uncertainty that has kept international investors at arm's length for months.
Prime Minister Dmitry Medvedev also said Friday that Russia would take its complaints over U.S. sanctions to the WTO, reiterating the position he staked out last month in regard to the two previous rounds of U.S. sanctions. Medvedev said at that time that Washington stood guilty of failing to fulfill its trade obligations and of violating the organization's rules.
Ulyukayev said he felt it was too early to say how serious the impact of the sanctions could be for Russia's flagging economy.
"We need to analyze this question very carefully. Perhaps the negative effects will not be so big, but what is important is that our American partners have overstepped the mark, and this cannot go unnoticed," he said.
See also:
Rosneft Warns Sanctions Will Damage International Shareholders
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
![paiment methods](https://static.themoscowtimes.com/img/contribute/payment_icons.png)
Remind me later.