© RIA Novosti / Alex Monotonicity in foobarcontroller bridge over the river Thames in London. Archival photo© RIA Novosti / Alex Monotonicity the image Bank
Russia’s decision to block the tariff rate of the UK in the world trade organization should provide for London a lesson, as the dynamics of world trade becomes more difficult, and it can bring a lot of inconvenience in the future, writes The Telegraph.
Russian objections concern proposed by the United Kingdom branch of their import quotas from the quota of the European Union. Because of these differences, the head of the WTO could not agree to the British draft.
«Why on earth Russia should make concessions to the UK in the WTO, when she wants to be dropped, imposed on its economy by international sanctions?» — the author notes.
Although the maneuver of Moscow will not prevent the UK to trade, no certified tariff may be used by other countries as a pretext for, or to refuse to cooperate with London, or to push him in the case of bilateral trade negotiations.
From a practical point of view, the consequences of the Russian measures to the WTO may be small, but the situation shows that no country is willing to separate politics from trade. In the event of a British exit from the EU, other States will use all available diplomatic levers in order to secure the most favorable terms. Those who develop independent trade policy London, will have to reckon with this problem, the author concludes.