U.S. Senate Votes to Drop Cold War-Era Rules on Russia Trade

Dec. 6 (Bloomberg) -- The U.S. Senate repealed Cold War-era trade restrictions with Russia by a 92-4 vote today, sending the measure to President Barack Obama who has said he would sign it. The House approved it last month.

Industry groups including the U.S. Chamber of Commerce and the National Association of Manufacturers say the measure will ensure that American businesses will be able to secure lower tariffs and have stronger legal rights when dealing with Russia, which joined the World Trade Organization in August.

The bill also includes provisions to impose travel and financial sanctions on human-rights violators in Russia.

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To contact the reporter on this story: Brian Wingfield in Washington at bwingfield3@bloomberg.net

To contact the editor responsible for this story: Jon Morgan at jmorgan97@bloomberg.net