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WTO rules fail to function — Russian Security Council

"The bottom line is that all the rules and regulations of the WTO do not actually work and do not safeguard our markets," Sergey Shoigu stressed

MOSCOW, May 29. /TASS/. Rules of the World Trade Organization neither operate in reality nor protect CIS markets, Secretary of the Russian Security Council Sergey Shoigu said at an informal meeting of high representatives of CIS countries in charge of security matters.

Russia held talks on admission to the WTO for almost twenty years, from 1993 to 2012, Shoigu noted. "We joined the WTO. And now we have 24,000 sanctions introduced against our country," the official noted.

"What we have at the bottom line? The bottom line is that all the rules and regulations of the WTO do not actually work and do not safeguard our markets," Shoigu stressed.

There is a need "to get rid of illusions, establish and develop financial and economic mechanisms protected from the external effect, create chains of production division, expand trade and invest in cutting-edge technologies," the secretary said. "The future of our countries and peoples depend on how independent our development will be," he added.

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WTO Sergey Shoigu

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