MOSCOW, August 13 (RIA Novosti) - Russia is not going to suspend its World Trade Organization (WTO) membership and will continue defending its interests in the organization, a source in the Russian Economic Development Ministry told RIA Novosti on Wednesday.
“Russia continues to be WTO’s full member and intends to carry on advocating its interests in full accordance to the organization’s rules,” the source said.
“Technically, it’s impossible to suspend the WTO membership, as it’s not prescribed by the WTO rules,” the ministry’s representative added.
On Tuesday, the Federation Council committee on food and agricultural policies’ first deputy chairman Sergei Lisovsky suggested Russia’s WTO membership could be put on hold.
The source stressed the measures restricting agricultural and food imports, introduced by Russia in response to the Western economic sanctions, “exactly conform the obligations of the Russian Federation in the WTO.”
Last week, Russia has introduced a one-year ban on a wide range of agricultural and food imports from the United States, the European Union, Australia, Canada and Norway. The move came in response to a new wave of economic sanctions against Moscow, limiting access to European capital markets for a number of Russian banks.