Senate Finance plans Russia trade markup

The Senate Finance Committee is looking to hold a highly anticipated markup of Russia trade and human rights measures next week, sources said Monday.

The committee will consider legislation extending permanent normal trade relations to Russia and a separate bill aimed at punishing those accused of killing Russian whistleblower Sergei Magnitsky. 

The Magnitsky bill would allow members of Congress to request that the executive branch apply financial and visa sanctions on individuals. The State Department would have to justify not applying the sanctions.

The Magnitsky bill was reported out of Senate Foreign Relations last month even though Chairman John Kerry (D-Mass.) said he had concerns about the scope of the bill. As written it can be applied to human rights abuses outside Russia. Business groups plan to lobby Kerry this week with a list of proposed changes. 

Finance Chairman Max Baucus (D-Mont.) has agreed to move the Magnitsky bill and PNTR together through his committee.

Russia's legislative Duma plans to vote on joining the World Trade Organization on Tuesday. Approval would set in motion a process ending in Russia joining the WTO in August. Once in the organization, Russia will be able to discriminate against U.S. exports unless the U.S. approves a PNTR bill.

Currently, the U.S. grants temporary normal trade relations to Russia by waiving the Jackson-Vanik amendment, a law put in place in the 1980s to punish the Soviet Union for preventing Jewish emigration.