US Senate may scrap Jackson-Vanik amendment before Russia joins WTO

The financial committee of the US Senate will consider lifting the Jackson-Vanik amendment on Thursday, RIA Novosti reports.

Discussions are planned for 10 am on Thursday. US officials said that American businessmen cannot make full use of Russia as a WTO member as long as the amendment stays in force. Russia is joining the WTO this summer.

The US Congress passed the Jackson-Vanik amendment in 1974, during the Cold War. It is a supplement to the US law on trade to limit commerce with socialist states blocking Jewish migration. The amendment is still in force for Russia.