Brussels, 11 March 2022
Chair Bernd Lange (S&D, Germany) made the following statement today after the EU in a G7 statement announced its intention to revoke Russia’s most favoured nation (MFN) status:
“As the situation in Ukraine, which is under attack by Russia, is getting worse every day, we cannot continue with business as usual when it comes to trade with Vladimir Putin’s regime. While the EU had already imposed a ban on the supply of dual-use items and has put other sanctions in place, it is now taking one step further by announcing the intention to revoke Russia’s MFN status. I welcome this move and the underlying coordination with partners.
Going forward, we need to walk a tight rope between punishing those responsible for this aggression and upholding a rules-based trading system that was already under threat. All those who believe that we need multilateralism for the benefit of all and who are opposing a world-view based on a zero-sum game, should now come together.”
Under the rules of the World Trade Organisation, the most-favoured nation clause requires that countries do not discriminate among their trading partners: a special concession or privilege granted to one country means that all the other trading partners must enjoy the same benefits.
So far, the Council has adopted four sanctions packages against Russia.