WTO’s anti-dumping measures may help Russian miners

The World Trade Organization plans to abolish anti-dumping measures that were introduced by the United States against European exporters.

The U.S. added a 3.33 percent duty on goods from the EU, which was determined to be against WTO rules. When Russia has been fully installed in the WTO, it may use this precedent to oppose anti-dumping legislation that the US has applied to the country, particularly miners, RT reports.

Sales to the U.S. represent around 15 to 20 percent of exports from the largest Russian companies.

“This will allow Russia to challenge anti-dumping duties on its exports to the United States after it enters WTO,” Sergey Filchenkov, an analyst from IFC Metropol, said, according to RT.

Russian exports to Europe are also currently saddled with duties and quotas. The EU said it will revoke the quotas after Russia enters the WTO, though the quotas only concern a limited number of mining products.

Maxim Medvedkov, the chief WTO negotiator for Russia, said that the export prices of Russian miners often do not exceed the prevailing market price in Russia. He said that Russia will protect its rights through the courts of the practice of anti-dumping continues after the country is admitted to the WTO.

“This event significantly decreases the risks of governmental protection and creation of non-market conditions for Russian miners,” Filchenkov said, according to RT.

Approximately 20 percent of total production from Novolipetsk Steel and Norilsk Nickel are sold on European markets.

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