Issue of Russia meeting WTO obligations closed – WTO Director General

(Interfax – January 17, 2013)

The question of Russia meeting its obligations to the World Trade Organization is closed, WTO Director General Pascal Lamy said Thursday at the Gaidar Forum in Moscow.

He said Russia has been a member of the trade body for five months already, so the question of the country meeting its obligations is a thing of the past. Now the country can no longer choose whether or not to meet its obligations, it has to do so, Lamy said.

However, he said a different question could arise in whether other WTO members believe that Russia is not fully meeting its obligations. If anyone has any questions, the WTO has a dispute resolution process for this.

On the other hand, if Russia believes that one of its partners is not playing by WTO rules, it can also turn to the WTO.

If a WTO member loses a dispute, it is obligated to comply with the ruling or face sanctions, Lamy said.

Asked whether Russia’s introduction of a recycling levy for automobiles is consistent with WTO rules, Lamy declined to give a direct answer, saying he wanted to remain neutral. From a legal point of view, the question is whether the levy restricts imports or exports, he said.
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US to Produce More Fuel Than Russia This Year ­ BP

MOSCOW, January 17 (RIA Novosti) ­ The United States is expected to surpass Russia and Saudi Arabia in 2013 as the world’s largest producer of crude oil and biofuels, British oil major BP said in its latest report published on Thursday.

The United States will overtake both Russia and Saudi Arabia in 2013 in liquids production due to rising production of shale oil and biofuels, but also due to expected OPEC production cuts, the forecast said.

Russia will likely pass Saudi Arabia for the second place in 2013 and hold this position until 2023. Saudi Arabia will regain the top oil producer slot by 2027.

“The US, Saudi Arabia, and Russia will supply over a third of global liquids,” the BP forecast said.

Russia will remain the world’s largest energy exporter by 2030, with increases in exports of all fossil fuels. Net energy exports will rise by 25 percent in volume terms.

Adjusting for expected economic growth, Russia is likely to remain significantly less dependent on energy exports than Saudi Arabia, the report said.