Reports that EU demands Russia pay €290 bln are untrue

The European Union demands Russia cancel or adjusts several measures that are seen by it as violating the World Trade Organization’s (WTO) rules; reports that it allegedly demands Russia pay €290 billion are not true, the press service of the Russian ministry of economic development said on Sunday.

Reports that EU demands Russia pay €290 bln are untrue

Reports that EU demands Russia pay €290 bln are untrue

STEPANAKERT, DECEMBER 27, ARTSAKHPRESS: "Reports that the European Union ‘demands Russia pay €290 billion under a dispute are not true. The EU demands are reduced to cancelling or adjusting several measures the EU considers as violating the WTO rules. The European Union estimates Russia’s supply market at €290 billion, but not the damage to the EU," it said.

According to the ministry, WTO rules do not provide for the payment of any compensations.

"During earlier consultations with the European Union, Russia gave the European Union detailed explanations concerning full compliance of these measures with Russia’s commitments within the WTO," the ministry said, adding it will continue to protect the Russian procurement rules "within the corresponding court procedures."

Some Russian media reported earlier that the European Union had filed a complaint with the WTO demanding Russia pay a compensation of €290 billion for its policy of import substitution. The WTO said on its website on November 29 that Russian government-run companies had tendered bids worth about €290 billion in 2019 and cited the European Union’s demand for revoking measures of Russia’s import substitution policy or adjusting them against the WTO rules. Russia however stressed that its measures are in full compliance with its liabilities within the WHO and expressed readiness to continue consultations with the European Union on this topic.