EU mulls suspending equal treatment for Russia at WTO

[BRUSSELS] The European Union is considering suspending its "most-favoured nation" (MFN) treatment for Russia at the World Trade Organization (WTO), meaning it would no longer treat Russian trade as the same as that from other countries.

"We are discussing options available to us in the WTO context. This includes the possibility of removing MFN treatment to Russia on the basis of the WTO national security exception," a European Commission spokesperson said in a statement on Thursday (Mar 3).

Canada will remove Russia and Belarus's most favoured nation status as trading partners, and will provide additional lethal aid to Ukraine, including rocket launchers and hand grenades, Canadian officials said Thursday. The only other country that does not enjoy the most favoured nation status with Canada is North Korea, and goods from Russia and Belarus will be subjected to a 35 per cent tariff when imported into Canada, Finance Minister Chrystia Freeland said. "Simply put, this means that Russia and Belarus will no longer receive the benefits, particularly low tariffs that Canada offers to other countries that are fellow members of the WTO," Freeland told reporters at a news conference. REUTERS