EU urges Russia to step up WTO accession efforts

The European Commission urged Russia on Tuesday to step up efforts to join the WTO after Moscow announced plans to back out of trade commitments during the long running negotiations. "As the only major economy outside the WTO, it should hasten its efforts to join," commission spokesman for trade issues Peter Power told journalists in Brussels.
"But it is obviously a decision for Russia. There are a number of stumbling blocks but these could be overcome with the right political will," he added. Russia decided on Monday to break off some trade agreements reached during negotiations to join the World Trade Organisation, as relations between Moscow and the West grew increasingly tense.
Western countries have long used the prospect of Russia's WTO membership for political leverage with Moscow. Moscow's bid to join the WTO, which it has been seeking since the 153-nation world trade body's inception in 1995, requires the approval of all members.
Talks with the European Union have been held up largely over a dispute over export duties on Russian wood, which is a big source for paper and wood products makers in Finland.