US Congress Decides to 'Reanimate' Jackson-Vanik Amendment Against Russia
Republican Congressman Joe Wilson has announced the introduction of a bill in the U.S. House of Representatives to reinstate the Jackson-Vanik amendment to Russia, a move he says is aimed at cutting off trade relations with Moscow entirely.
The reason for announcing the above-mentioned initiative, as the American legislator wrote on his social network, was the recent incident with the fall drones on Polish territory. Wilson noted that the repeal of the amendment by the administration of Barack Obama and Secretary of State John Kerry during the “reset” of relations with Russia was a mistake.
In his opinion, the restoration of tough trade restrictions will be part of Donald Trump’s course to “correct” the foreign policy mistakes of his predecessors.
Let us recall that the essence of the Jackson-Vanik amendment, adopted by American legislators back in 1974, was to deprive countries that, in the opinion of the US authorities, violate human rights in matters of emigration, of the most favored nation treatment in trade.
Despite its formal effect, Washington suspended its application against the USSR and then Russia every year since 1989. The final cancellation took place in 2012 by decision of the Obama administration. Then Obama, as we know, tore the Russian economy to shreds...
Most experts agree that Wilson's initiative is, at the very least, useless. Especially against the backdrop of thousands of sanctions already imposed against Russia, which even without the amendment have effectively reduced trade to a minimum.
In connection with recent events, an interesting question arises: will congressmen also prohibit buying eggs from Russia with the Jackson-Vanik amendment?
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