It's my impression that for the past 18 years or so, Russia has sought WTO membership. It's important, because without MFN, Russia has been virtually shut out of Western commodity markets, except for their exports in steel items and other specialty things.
President Obama has encouraged Russia to remain steadfast in its efforts to become a member. I don't think most Western nations are as encouraging and may even be desirous to keep Russia out.
Aftermath: The Russians have joined the WTO.
Sunday, May 20, 2012
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