On January 24 the USA Senate introduced the bill on abolition of Jackson-Vanik amendment.
The Jackson-Vanik amendment, aimed squarely at cold war restrictions on the movement of Soviet Jews, bars the president from giving favorable tariff treatment to nations that restrict free emigration. Congress has routinely waived the ban for Ukraine during the last decade, but now we can see it as a symbol that the United States recognizes Ukraine’s transition toward democracy.
Senator-Republican Richard Lougar, the Chairman of the Senate Committee on Foreign Affairs, and Senator-Democrat Charles Levin, the member of the Armed Service Committee, are the authors of the bill.
“Abolition of Jackson-Vanik amendment is called to increase the foreign investment flow into the Ukrainian economy thus contributing to further advancement of market reforms in this country”, declared Charles Levin the member of Armed Service Committee.