WASHINGTON, Dec. 22, 2010 /PRNewswire-USNewswire/ -- Today, the United States Senate ratified the New Strategic Arms Reduction Treaty (New START) with Russia by a vote of 71-26. The U.S.-Russia Business Council (USRBC) commends the Senate for taking this significant step forward that will help to reinforce the ongoing constructive dialogue that has led to improvements in the United States' bilateral relationship with Russia, while at the same time ensuring that U.S. national security interests are upheld. USRBC hopes to welcome approval of New START by Russia's Federal Assembly in the coming weeks.
USRBC President & CEO Ed Verona praised this development, saying that, "The ratification of New START sets the stage for the year ahead, during which USRBC expects to see further progress on Russia's accession to the World Trade Organization (WTO). In conjunction with the conclusion of that process, we also anticipate Congressional action to lift application of the Jackson-Vanik amendment to Russia and establish permanent normal trade relations (PNTR), a move that will enable U.S. companies to enjoy the full benefits of Russia's eventual accession to the WTO." With Russia's accession talks advancing and with Congressional work on New START now complete, members of the Coalition for U.S.-Russia Trade, for which USRBC serves as Secretariat, will be working closely with the Obama Administration and others to engage Members of Congress over the coming months as we lay the groundwork for a successful vote on Jackson-Vanik and PNTR.
For more information on how your company can get involved in the Coalition for U.S.-Russia Trade, please visit the Coalition's website at www.usrussiatrade.org.
The U.S.-Russia Business Council (USRBC) represents the interests of its 250 U.S. and Russian member companies, providing business development and government relations support in both Moscow and Washington. The USRBC contributes to the stability and development of a free market in Russia and supports Russia's integration into the global economy. It also serves as the Secretariat for the Coalition for U.S.-Russia Trade (www.usrussiatrade.org), the organized U.S. business community effort to graduate Russia from Jackson-Vanik and extend PNTR to Russia. For more information, visit the USRBC online at: www.usrbc.org.
SOURCE U.S.-Russia Business Council