Oreshkin suggests ditching dollar trade with China not to affect ruble
There is a good chance that Russia will challenge US duties on steel and aluminum imports with the World Trade Organization (WTO), Russian Economic Development Minister Maxim Oreshkin said.
"We have good prospects," he said in an interview with the Russian Izvestiya newspaper. "The measures introduced by the United States are obviously at odds with the WTO rules. We are absolutely confident about our position. The decisions taken by the United States are way out of step with what was happening before, so the WTO court decision will be univocal," Sputnik cited Oreshkin as saying.
However, he noted that the WTO would make its ruling only if the organization’s activities were not blocked, which the United States was seeking to achieve.
"This concerns the operation of its appeals structure. The appointments of new judges are being blocked. The whole procedure of dispute settlement can be blocked due to this," the minister suggested.
Oreshkin added that using national currencies for bilateral financial transactions between Moscow and Beijing will not significantly affect the ruble rate.