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Russia urges WTO to make global trade free from sanctions

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Staff Writer | December 14, 2017
Economic sanctions are one of the worst forms of protectionism, according to Russian Economy Minister Maksim Oreshkin.
Maksim Oreshkin
Trade   One of the most aggressive forms
He has called on the World Trade Organization (WTO) to put an end to what he called a degrading phenomenon.

"We’ve been facing a rise in one of the most aggressive forms of protectionism in recent years. I mean sanctions.

"We have enough evidence proving that protection of companies and their preference on the domestic market is one of the reasons for imposing sanctions against partners in the WTO,” he said at the WTO ministerial conference in Buenos Aires.

We should make the global trade system free from this degrading phenomenon.”

According to the Russian minister, global trade is facing many challenges, although growth exceeded three percent this year.

“The expansion of isolationist and anti-competitive practices poses a threat to openness and fairness of global trade,” said Oreshkin.