According to the press service of the Ministry of Economic Development of the Russian Federation, the decision of the US Department of Commerce to remove the status of a country with a market economy from Russia is biased and “purely political”. Relevant commentary of the episode was distributed on Friday, November 11, reports TASS.
In particular, the Department of Economic Development noted that the status revision was initiated only six months after the US Department of Commerce confirmed that the Russian economy remains a market economy.
“Conditions deemed sufficient to warrant reconsideration of one’s own decision emerged after the commencement of the trial. Special military operation in Ukraine “It is a direct result of the actions of a number of countries, not the United States itself,” the Russian ministry said in a statement.
The ministry also did not exclude that dispute resolution procedures within the framework of the World Trade Organization would be included. interfax.
“This US decision is illogical, because our being ‘non-market’ is determined by the conditions created by the US itself. The practical application of this solution requires the supply of Russian goods to the US market.
Russian exports were almost completely stopped by a series of sanctions, from complete bans and additional taxes to the practical impossibility of Americans paying for delivery and carriers delivering goods.
The Department of Economic Development says that “market principles” as the US understands it are not actually used to ensure free competition, but rather to suppress competition from non-American producers.
The state of the Russian economy is reclassified as non-market
On November 10, the US Department of Commerce, citing the results of the investigation, announced that Russia can no longer be considered a market economy country in terms of US anti-dumping tax law and hence the state of the Russian economy. It will be reclassified as “non-market”.
According to a press release from the U.S. Department of Commerce, the decision is based on “in-depth analysis of research from unbiased third-party sources.” They added that the increasing influence of the state on the economy puts American industry at a disadvantage as it tries to compete in global markets.
“Government intervention in the Russian economy led to a deterioration in prices and costs for Russian companies, which affected the formation of non-market prices for Russian companies’ imports to the United States.” vedomosti US press service.
Maxim Medvedkov, former director of the trade negotiations department of the Ministry of Economic Development of the Russian Federation and head of trade policy, said at the same time that this decision did not have a significant practical impact against the backdrop of current sanctions. Department at the Higher School of Economics.
“The US decision on Russia’s non-market status for the purposes of anti-dumping investigations means that the costs of our exporters will not be taken into account when conducting investigations into Russian goods. Instead, the costs of third countries will be used.
Therefore, the risks of additional restrictions on access to the US market, primarily metallurgists and chemists, will increase.
On the other hand, against the background of other US anti-Russian measures, including sanctions, the negative impact of the Commerce Department’s decision in practice is unlikely to be significant,” he said.
Market status was granted to Russia by the US Department of Commerce in 2002. In 2021, the US Department of Commerce conducted an analysis of the marketability of the Russian economy. As a result, a decision was issued on October 29 last year that there were no sufficient grounds for the cancellation of Russia’s market status.
In May 2022, the US Department of Commerce began reviewing this decision due to “changing circumstances”.