Russia and the United States have a long and complicated history that has been marked by periods of both cooperation and conflict. One of the topics of discussion between the two nations is trade, with both countries seeking to maximize the benefits of economic cooperation while minimizing the risks.
Over the years, Russia and the US have signed a number of trade agreements in order to facilitate the free flow of goods and services between the two nations. These agreements cover a range of areas, including agricultural products, technology, and energy.
In 2012, Russia was admitted to the World Trade Organization (WTO), which opened up new opportunities for trade between Russia and the US. As a WTO member, Russia is obligated to follow international trade rules and regulations, which should make it easier for American businesses to do business in Russia.
As a result of Russia`s WTO membership, the US and Russia have agreed to a number of bilateral agreements, including an agreement on market access for beef and pork products. Under this agreement, US beef and pork exporters will have greater access to the Russian market, which is expected to boost trade between the two nations.
Another area of cooperation between the US and Russia is energy. Russia is a major exporter of oil and gas, while the US is a major importer of these products. In recent years, the two countries have signed a number of agreements related to energy cooperation, including an agreement on the development of shale gas in Russia.
Despite these agreements, trade between Russia and the US has been affected by geopolitical tensions in recent years. In 2014, the US and other Western nations imposed economic sanctions on Russia in response to its annexation of Crimea. These sanctions have had a significant impact on trade between the two countries, with US exports to Russia declining sharply.
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Overall, while the relationship between Russia and the US is complex, trade agreements between the two nations offer opportunities for increased economic cooperation. As both nations work to overcome political tensions, trade between Russia and the US is likely to continue to grow and benefit both nations.