The economy minister speaks out against withdrawing from the organization, saying the benefits of being in the WTO outweigh the drawbacks Russia needs to keep its place in the World Trade Organization despite Ukraine-related Western sanctions, Economy Minister Maxim Reshetnikov said in response to a bill demanding Moscow quit the WTO.

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Beijing has voiced “serious concern” over the new trade policy and warned of countermeasures President Joe Biden has signed an executive order limiting US investments in Chinese technology companies, labeling the People’s Republic a “country of concern,” while claiming it seeks to exploit American business.