Russia, China round up joint naval exercise in Baltic SeaMilitary & Defense July 27, 21:27
Chechen leader says he is ready to quit his job to protect al-Aqsa Mosque in JerusalemSociety & Culture July 27, 21:07
Russian tennis star Sharapova granted wildcard for WTA tournament in CincinnatiSport July 27, 20:11
Russia invites Baltic partners to attend naval review in St. PetersburgMilitary & Defense July 27, 19:38
Russia’s new ambassador to Turkey presents his credentials to ErdoganRussian Politics & Diplomacy July 27, 19:03
Deadly wildfires in southern EuropeWorld July 27, 18:20
Russia interested in cooperation with Finland on Arctic environmentBusiness & Economy July 27, 18:14
New US anti-Russia sanctions way to pursue its economic interests with cynicism — PutinRussian Politics & Diplomacy July 27, 18:11
Moscow surgeons separate newborn Siamese twins conjoined at head in 30 minutesSociety & Culture July 27, 17:57
MOSCOW, February 21 (Itar-Tass) —— Russian President Dmitry Medvedev and Chairman of the US Senate Finance Committee Max Baucus discussed the prospects to abolish the Jackson-Vanik amendment, which restricts the trade between the two countries, the Russian presidential press service told Itar-Tass on Tuesday.
“Medvedev and Baucus met on Monday to focus on the problem of cancelling the Jackson-Vanik amendment,” the Kremlin press service reported.
The Jackson-Vanik amendment was endorsed by the US Congress in 1974 and imposed restrictions on the trade with the Soviet Union.
The US restrictions in trade were caused by lack of freedom of emigration in the Soviet Union.
The amendment is formally in effect against some of the former Soviet republics, which are the successors of the Soviet Union.
Since 1989 the United States introduces an annual moratorium on the effect of the amendment, but did not cancel it officially.