Economics
EU Seeks to End Russia’s Most-Favored Nation Status at WTO
- Russia exports about 95 billion euros of goods to the EU
- Any exports still going into the EU would be hit with tariffs
Traffic on Tverskaya Street by the State Historical Museum in Moscow, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The European Union is seeking to remove Russia’s most-favored nation status at the World Trade Organization, a move that could further hit 95 billion euros ($105 billion) of Moscow’s exports to the bloc with tariffs.
The sanctions already imposed by the EU have closed off a significant portion of financial and trade ties with most European companies. Ending most-favored nation status would increase costs via tariffs for any EU companies still doing business with Russia.