Relations between the US and Russia, riding high after a recent “cheeseburger summit” between Presidents Barack Obama and Dmitry Medvedev, came back to earth during the recent spy scandal. But in between, the main thing the two leaders achieved when they met late last month has been overlooked: a joint commitment to see Russia join the World Trade Organisation. As Mr Obama said: “That's good for Russia, it's good for America and it's good for the world economy.”
It is embarrassing that Russia, the world's sixth-largest economy and 15th-largest trading nation, is the only Group of 20 state outside the 153-member WTO. China – whose record on intellectual piracy and barriers to foreign companies is hardly better than Russia's – has been a member since 2001. Even Ukraine joined in 2008, while Russia has endured a 17-year odyssey to gain entry.
Yet it is too early to break out the shampanskoye. On the political front, the main barrier is Georgia. A single member country can veto a new entrant. Tblisi revoked its consent for Russia's candidacy in 2006 in response to a ban on its wine exports – and the 2008 war has only strengthened its resolve. It is doubtful that Washington could simply order Georgia to drop its objections.