Declares that Congress is committed to: (1) terminating the application of the Jackson-Vanik Amendment to Russia; and (2) authorizing the extension of normal trade relations to Russian products.
Expresses support for: (1) the actions of the Russian Government and Duma to reform the structure of the Russian energy sector to attract international investment and to permit full implementation of energy projects on Sakhalin Island and in the Timan-Pechora region; and (2) continued high level and sustained exchanges on energy development between the U.S. and Russian Governments and between businesses in the two countries.
Encourages: (1) regulatory and investment framework in the Russian Federation to expand Russia's oil and gas export capacities; and (2) Russia to work toward accession to the World Trade Organization in a manner that promotes meaningful market access opportunities for U.S. workers, businesses, and farmers.