Russia's Prime Minister, U.S. Secretary of Commerce May Speed Up Talks on Steel Trade

According to Alexei Mordashov, the General; Director of Severstal steel company, the meeting of Mikhail Kasyanov, Russia's Prime Minister, with Donald Evans, the U.S. Secretary of Commerce, may speed up the talks concerning not only the abolishing of the Jackson-Vanick Amendment but also steel trade, just a bit over one month remaining till the making by President Bush of a decision on Paragraph 201. Mr. Mordashov is participating in the World Economic Forum as a member of the Russian Delegation, which very importantly coincides in time with the visit to the U.S. of Mr. Kasyanov.

Mr. Mordashov believes Russia is eligible to be excluded from investigation under Paragraph 201. This investigation, if continued, may cause added discrimination against Russian steel makers resulting in the loss of $1,5 milliard in export revenues.