11 December 2019
The world trade organization includes about 164 countries, due to the fact that this week the WTO has left without appeal, the organization is on the verge of collapse. The reason for this situation lies in the fact that two of the three remaining members expire. Given the fact that the United States have been trying to break up the organization - this is a great chance to make the dream a reality.
Due to the new strategy of the American President Donald trump, the WTO may be completely paralyzed. The main problem is that when the country's appeal against the infringement of their rights, the claim should be considered by the panel of three judges, other method of adjustment of global trade just yet. Given the fact that currently 4 of the seven positions remain open, but yesterday two judges left his post in connection with retirement. Today, 11 December, the WTO was only one judge who will not be able to make competent decisions.
To replace the departed judges are not so simple, because vacancies in the court of the WTO specifically blocked the White house. If not taken any drastic actions, thanks to the efforts of America, the WTO can be completely frozen.
Trump is configured radically due to the fact that the WTO has served an incredible number of lawsuits from different countries protesting against the policies of protectionism in the United States. The us government accuses the organization that its leaders are “unfair belonged to the United States.”
Due to the collapse of the organization, Russia may lose billions of dollars because at this point in the appellate court of the WTO solved two important dispute: the lawsuit Kiev against Russian restrictions on imports of railway equipment from Ukraine and the third energy package of the EU.
Head of analytical Department AMarkets explained the situation as follows - “the dispute with Ukraine if it gets frozen, the big problems will not create. And freezing of appeals for the third energy package of the EU is the problem, as it directly relates to the download of our pipelines in Europe. The panel has previously supported the Russian position, acknowledging the illegal actions of the EU in respect of our gas supply through the pipeline OPAL. If the dispute is frozen, Russia will lose hundreds of millions of euros”.
At the moment the experts can not solve the current situation. The Finance Ministry say only one thing - “if trump can't be re-elected for a new term, the problems WTO would go along with him.”