Senate Finance announces Russia trade markup

The Senate Finance Committee, as expected, on Friday announced that it will be marking up a controversial Russia trade bill next Wedndesday and released the text of a compromise draft bill.

The bill will extend permanent normal trade relations to Russia and unless it is enacted before August, U.S. exports to Russia could suffer.

Russia is on track to join the World Trade Organization next month, and the United States is obligated to offer unconditional trade relations to all WTO members.

Currently, trade relations are conditioned on Russia allowing Jews to emigrate under a law from the 1980s that is routinely waived. Business groups are lobbying heavily for the PNTR bill. 

To win the support of committee Republicans, Chairman Max Baucus (R-Mont.) included numerous reporting requirements in the draft bill under which the administration must increase its monitoring of Russia's trade practices and legal system.

“I appreciate Chairman Baucus’ leadership and for agreeing to further strengthen this legislation.  Together, we’ve produced a consensus bill," Ranking Member Sen. Orrin Hatch (R-Utah) said. 

The committee said it will be markup up a separate bill aimed at punishing those accused of killing Russian whistleblower Sergei Magnitsky.  The committee announcement does not specify if this bill will be considered as an amendment to the trade measure.

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.

The committee will also consider legislation affecting trade benefits for the Dominican Republic, sub-Saharan Africa and a bill renewing sanctions on Burma.

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