Russia's Accession to the WTO

After Russia's accession to the World Trade Organization, the Russian economy's tariff protection would be double that in the European Union, Deputy Prime Minister and Finance Minister Alexei Kudrin stated for Channel One. "After a 7-year transition period, our economy's tariff protection will finally be nearly twice as high as in the EU. This means that we will not be as open as they are. Moreover, we will retain even more restrictions in the banking sector," the minister stated.