Jan. 24 (Bloomberg) -- President Barack Obama may pledge to repeal the Jackson-Vanik amendment, a Cold War-era law passed to punish the communist Soviet Union, said Michael McFaul, the U.S. ambassador to Russia.
“In the State of the Union speech today, hoping to hear about repeal of Jackson-Vanik for Russia,” McFaul said on his Twitter Inc. account. “Long overdue, good for U.S./good for Russia.”
In his third State of the Union address before a joint session of Congress, Obama will focus on economic concerns in an election-year speech.
The U.S. risks losing out on increased exports to Russia once the country formally joins the World Trade Organization because of the 1974 law, which barred favorable trade relations with the Soviet Union because it wouldn’t let Jewish citizens emigrate.
--Editors: Jennifer M. Freedman, Jeffrey Donovan
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