WASHINGTON (Realist English). The US Department of Commerce no longer considers Russia a country with a market economy. Washington has taken away from Moscow the status granted to it 20 years ago, which allows the Russian Federation to avoid anti-dumping duties on goods.
The American side proceeds from the fact that the Russian state largely interferes with the work of the economy, and this affects the pricing and cost structure of Russian producers. As a result, the prices of Russian goods supplied to the United States may be unfair, the Ministry of Trade noted.
“This decision gives the United States the opportunity to use the full force of anti—dumping legislation to eliminate distortions in the market caused by the growing interference of the Russian government in the work of the economy,” Reuters quoted a statement from the US Department of Commerce.
Washington granted Russia the status of a country with a market economy in 2002, which was also necessary for joining the World Trade Organization.
At the same time, the US Treasury is in no hurry to break ties with Moscow. The agency has extended the license for energy transactions with the largest Russian banks, including those that are under Western sanctions: the Central Bank, Vnesheconombank, Otkritie Bank, VTB, Alfa-Bank, Sovcombank, Sberbank and others.
The license is valid until May 15, 2023. Operations related to the extraction, production, liquefaction, gasification, conversion, enrichment, manufacture, transportation or purchase of oil are allowed. The permit also applies to LNG, petroleum products, wood, agricultural products and even nuclear energy.
