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Russia might quit WTO in case of economic sanctions

March 17, 2014, 18:05 UTC+3 MOSCOW
“Russia’s withdrawal from the WTO will hit hard many countries in Europe and the Unites States,” leader of Just Russia party says
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 World Trade Organization headquaters

World Trade Organization headquaters

© EPA PHOTO KEYSTONE/Laurent Gillieron

MOSCOW, March 17. /ITAR-TASS/. If the West imposes economic sanctions on Russia over its position on Crimea, the Just Russia party will raise the question of Russia’s withdrawal from the World Trade Organisation, Just Russia leader Sergei Mironov told journalists on Monday.

Mironov does not think that the sanctions might pose too big a threat to Russia. For the time being, possible travel restrictions for government officials, deputies of the State Duma (lower house of parliament) and members of the Federation Council (upper house of parliament) are being considered, whereas no sanctions are being planned against rank-and-file citizens, Mironov said. “The promised sanctions do not frighten me at all,” Mironov said, adding he liked to travel and spend his vacations in Russia.

Mironov said he could foresee economic difficulties for the West if it authorises economic sanctions against Russia. “If the West begins to impose sanctions, they will reciprocally hit Western economies and jobs, while rank-and-filed citizens will be asking their governments why their enterprises are being closed and they were losing their jobs,” Mironov said, adding that all things in the world were interrelated.

Mironov did not rule out that under such circumstances the Just Russia party might raise the question of Russia’s withdrawal from the WTO. The Just Russia never approved Russia’s accession to WTO because it was of no advantage to the Russian economy. “We have opened our markets to WTO member states which have been delivering goods with no Customs fees charged,” Mironov said.

 “Russia’s withdrawal from the WTO will hit hard many countries in Europe and the Unites States,” Mironov warned.

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