The multilateral negotiations will resume in Geneva this July and may lead to the completion of the negotiations, Maxim Medvedkov, trade negotiations department chief at the Economic Development and Trade Ministry, was quoted by the Itar-Tass news agency as saying.

A final estimate of possible consequences of the Russian entry into the WTO for the domestic industries will be released in August, he said. Russia is the largest economy still outside the Geneva-based world trade body. It signed a bilateral WTO agreement with the United States last year, clearing the last major hurdle to its accession.