Russia complains to WTO about EU import tariffs

06/01/2014 12:00 - 502 Views

Russia has formally issued a complaint to the World Trade Organization (WTO) against European Union (EU) trade measures which take away the ability of Russian firms to benefit from cheap energy.

Moscow claims that the EU unfairly imposes high import tariffs on Russian fertilizers, ferro-alloys, aluminum foil, pipelines and other steel products in response to Russia's low domestic energy prices. The import tariffs have cost Russian firms "hundreds of millions of dollars," the Economy Ministry says.

If the dispute is not resolved through negotiations after 60 days, Russia is entitled to request adjudication by a WTO panel.

This is Russia's first WTO suit since becoming a member of the organization in 2012, following 18 years of negotiations.

In October of 2013 the EU requested a WTO panel to settle a dispute over Russia's so-called "recycling fee" for motor vehicles. The panel was established on November 25, 2013.

Source: Tax News