United States officially deprives Russia of all trade benefits

The United States has officially deprived Russia of trade benefits under the U.S. Generalized System of Preferences (GSP).
A respective proclamation was issued by President Barack Obama, ITAR-TASS reported.
“From now on, Russian goods, to which the GSP system earlier applied, will be subject to U.S. import duties on general grounds. The decision to deprive Russia of benefits was announced on May 8, but the White House decision officially came into force from October 3. The formal reason named by the United States is that the preferential approach is envisaged for countries less economically advanced than Russia and that the White House actions were not officially connected with the Ukrainian crisis,” reads the statement.

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