Cancellation of Jackson-Vanik amendment postponed to next year

Few days remain before the Congress takes a five-week vacation, but the bill establishing “a regime of normal trade relations with Russia” is not included in its schedule, Kommersant reports today.

According to the Vice-President of the National Foreign Trade Council, Daniel O’Flaherty, in the September schedule of the Congress only eight days are devoted to discussion of bills. This might mean that work on Jackson-Venik amendment will be continued in 2013, as many other questions should be settled in the period between the Congressional elections in November and beginning of work in January. At the same time, O’Flaherty is concerned about the fact that during this time “positions taken by American companies in Russia will be taken by our rivals in Europe and Asia.”

The Financial Committee of the US Senate adopted the united bill on cancellation of the Jackson-Venik amendment and expanding the status of normal trade relations for Russia on July 18.