Russia to lower tariffs on EU’s paper products after WTO ruling
(Zurich, August 12, 2016) Russia has violated its trade commitments by inflating tariffs on supplies of palm oil, paper and refrigerators from the European Union, a World Trade Organization (WTO) said on Friday, in its first ruling on Moscow since Russia joined in 2012. …
Russia says that since then it has already downgraded most of the tariffs at the center of the spat and will lower the rest – on paper and refrigerators – in the near future.
“Russia has never denied that due to technical reasons the import tariffs on certain products were differing from those which were set in its tariff liabilities,” Russia’s Economy Ministry said in a statement on its website http://economy.gov.ru on Friday.
To read complete report Go To: http://www.investing.com/news/commodities-news/russia-to-lower-tariffs-on-eu’s-paper,-fridges-after-wto-ruling-420059 (Source: press release)