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Russia Cuts Trade Deals After Backlash
James Joyner | September 04, 2008Moscow is isolating itself from world trade in response to criticism of its invasion of Geogia, Alan Beattie and Luke Peterson repor for the FT. They note that "In the past week Moscow has announced it will suspend agreements to import pork and chicken, banned 19 US companies from exporting poultry to Russia and blocked Turkish trucks at customs posts" and that it would "review its trade agreement with Ukraine."
Joe Guinan, a trade analyst at German Marshall Fund think-tank in Brussels, said: “It is unfortunate the US approach over Russia’s WTO membership has provoked this reaction. Tit-for-tat trade wars don’t help anyone.” He also contends that the West has relatively little leverage, noting that one of the EU's conditions for allowing Russia into WTO was an agreement not to block exports of raw materials.
