Russia: Towards the end of the MFN status?
In early March, Canada issued a Order in Councilrevoking MFN statusRussia and Belarus. The customs rate for imports into Canada therefore increases to 35% for almost all products. The United States announced on 11 March that it would do the same. This measure will be put to the vote of the Congress shortly.
The European Union and other WTO members, such as Australia, South Korea, Japan and New Zealand, reported on 15 March that Russia was denied MFN status. This decision stems from an announcement made on Friday, March 11 by the G7 members. Russia's significant benefits as a WTO member will thus be suspended. Additional tariffs, as well as non-tariff barriers, may be introduced.
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