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Russia Changes its WTO Strategy

June 22, 2009

Analysis of:Russia Changes Its WTO Strategy | online.wsj.com

Moscow's unexpected change of heart over WTO accession has done nothing to help Russia join this organization. Russian decision to abandon its separate WTO bid and start new accession talks to join WTO together with other members of its Customs Union - Belarus and Kazakhstan - means a complete change of negotiating format and positions and an actual revision of previous provisional aggrements already reached between Moscow and WTO. Russia's volt-face questions the credibility of Moscow's pledges and sincerity of its drive to join WTO. Does Moscow really want to join WTO now, at the peak of the global economic crisis? The answer is no.  In order to save its uncompetitive industries Russian government tends to rely on tough protectionist policies by imposing new tariff and non-tariff barriers. They contradict WTO standards and expose Moscow to severe pressures from its WTO partners. The Kremlin does not need WTO as a antiprotectionist watchdog that hinders its economic performance.

Growing Inflation in Russia

March 31, 2008

Analysis of:State Cos. Monitored to Fight Inflation | www.kommersant.com

Russian Ministry of Economic Growth and Trade anti-inflationary measures include monitoring of the state sector of economy for the first tome. A draft plan proposes that state companies' be monitored as one of 24 measures to contain consumer prices growth. Meanwhile the monthly inflation rate in January 2008 skyrocketed to 2 percent while the annual target is just 8 percent!

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