Russia has been invited to join the World Trade Organization (WTO) by July 23, 2012. This report looks at policy issues for Congress, and concerns for the US regarding conditions ensuring that Russia fulfills its obligations and provides meaningful trade and investment opportunities for U.S. firms.
The change in Russia's trade status will require legislation to lift the restrictions of Title IV of the Trade Act of 1974 as they apply to Russia, which includes the “freedom-of-emigration” requirements of the Jackson-Vanik amendment. The process for Russia's accession has been completed. As a result, Members of the 112th Congress confront the issue of whether to grant Russia permanent normal trade relations (PNTR).