For those who don’t know, the Jackson-Vanik Act was basically an embargo that restricted trade between them and the United States. I’ve written McCain about this and I’m glad to see something happening. From the Action Ukraine Report:

WASHINGTON, D.C. – U.S. Senator John McCain (R-AZ) and Representatives Henry Hyde and Tom Lantos today introduced legislation to lift the Jackson-Vanik restriction on Ukraine. Senator McCain issued the following statement:

“The recent ‘Orange Revolution’ in Ukraine marked a huge victory for the advancement of democracy in the world. The Ukrainian people made clear that they would not stand idle as a corrupt regime sought to deny them their democratic rights. Now that the people of Ukraine have seized control of their destiny, the United States must stand ready to assist them as they do
the hard work of consolidating democracy. The Jackson-Vanik amendment is, with respect to Ukraine, now anachronistic and inappropriate. Therefore, I am pleased to introduce legislation that would terminate it.”

The bill would authorize the President to terminate the application of Jackson-Vanik (Title IV of the Trade Act of 1974) to Ukraine. Ukraine would then be eligible to receive permanent normal trade relations (PNTR) tariff status in its trade with the United States.

“Beyond any benefits to our bilateral trading relationship,” McCain said, “lifting Jackson-Vanik for Ukraine constitutes an important symbol of Ukraine’s new democracy and its relationship with the United States. I led a delegation of four senators and six representatives to Kiev last week, where we met with President Yuschenko, Prime Minister Tymoshenko, and students who led protests in Independence Square.

I was struck by the great enthusiasm for democracy and freedom that has taken hold in Ukraine, and I wish the new leaders all the best as they begin the challenge of governing. I pledged to them that I would work toward the lifting of Jackson-Vanik on Ukraine, and today I am happy to take the first step toward that end.” -30- ÄAction Ukraine Report Monitoring ServiceÅ