The EU, the G7, and several countries have stripped Russia of its WTO membership privileges.

 In cooperation with the Group of Seven and other partners, the European Union will cease to treat Russia as the most favored nation in the World Trade Organization, stated Vice President of the European Commission, Valdis Dombrovskis. This deprives Russia of key trade advantages as a member of the WTO, ensuring that Russian companies’ products do not enjoy the maximum benefit of member economies. In addition to the EU and G7 countries, this decision was supported by Albania, Australia, Iceland, South Korea, Moldova, Montenegro, New Zealand, Northern Macedonia, and Norway.