17:27 - 15.03.2022

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March 15, Fineko/abc.az. One of the expected sanctions for Russia was the cancellation of its status as the "most favorable country", which it received thanks to membership in the World Trade Organization.

This status is one of the main mechanisms of the WTO. The aim is for member countries to avoid discrimination against each other in mutual trade.

ABC.AZ reports that expert Rovshan Agayev wrote about this on his Facebook page:

"If one of the members applies a low import tariff (or degree 0) to any country with the status of the "most favorable country" for any product or group of products, then automatically all member countries enjoy this favorable trade regime. Russia's loss of this status will mean that it will not be protected from discrimination in trade with WTO members, it will not be subject to favorable trade regimes."