Commodities and Futures News

Russia to update its strategy in World Trade Organization amid sanctions, says Putin

2022.04.20 17:35

Russia to update its strategy in World Trade Organization amid sanctions, says Putin
Russian President Vladimir Putin chairs the supervisory board meeting of the presidential forum “Russia – Land of Opportunity” at the Kremlin in Moscow, Russia April 20, 2022. Sputnik/Mikhail Tereshchenko/Pool via REUTERS

(Reuters) – Russian President Vladimir Putin said on Wednesday that “illegal” restrictions on Russian companies by Western states ran counter to World Trade Organization rules and told his government to update Russia’s strategy in the WTO.

“These measures (sanctions) run counter to WTO principles, to which European colleagues have constantly reiterated their adherence”, Putin said.

Russia’s economy has been battered by Western sanctions designed to force Moscow to withdraw troops it sent into Ukraine on Feb. 24.

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