Russian Economic Development Minister Maxim Oreshkin criticized the US for violating the principles of the WTO, comparing Washington’s approach to "shooting itself in the foot," TASS reports.
Speaking at an informal meeting of the World Trade Organization (WTO) in Paris the Russian official said: "We are watching the US shooting itself in the foot, damaging at the same time the whole world economy. The history shows, unfortunately, that all the positive moments in the regulation of international trade occur only after something really bad happens to the world economy."
According to the Russian minister, the participants in world trade "are already sitting on the train, heading to the next stop called "Global Crisis."
He compared the situation to the period of the Great Depression, when all countries sought to protect their domestic market, which only made the situation worse. Oreshkin said that such a policy will eventually lead to a slowdown in the global economy and called on the global players to abandon it.
