WTO to review EU case against Russian measures on state enterprises
Reuters
Published Dec 20, 2021 10:41AM ET
By Emma Farge
GENEVA (Reuters) - A World Trade Organization body agreed on Monday to set up a panel to examine a trade challenge brought by the European Union against Russia over measures it says restrict EU firms from selling goods to Russian state-owned enterprises, a WTO official said.
The European Commission, which oversees trade for the 27-member EU, has said that Russia since 2015 has gradually expanded restrictions aimed at replacing foreign goods and services in procurement contracts.
The Commission has argued that this has happened through a mixture of restrictions including minimum quotas for domestic products and price preferences for state-related entities.
Russia has expressed confidence that its measures fully comply with its WTO obligations.
Brussels submitted its first request for a panel at the WTO dispute settlement body last month but Russia used its veto right to block it. WTO member states can only block a panel request once.
Typically, it takes about 45 days to appoint a panel and then a report is due within 6-9 months. However, many recent rulings have been delayed beyond that timeframe.
Either of the parties may appeal the findings but, since the WTO's top appeals body is paralysed, this would slip into a legal void.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.