(Reuters) - The United States and Russia are planning to sign a deal on Friday that could open the way for Russia's long-planned entry into the World Trade Organization, Kommersant newspaper reported on Tuesday.
Kommersant said President Bush and Russian President Vladimir Putin may sign the deal when they meet on the eve of the G8 summit in St Petersburg this weekend, but it said they would take the final decision at the time, reports Trend.
"We are preparing to sign a protocol with the United States, but the negotiations haven't yet come to a full stop," Kommersant quoted a source in the Russian trade delegation as saying.
The paper said the WTO talks had ended in compromise, with the Americans withdrawing demands that foreign banks should be able to open branches in Russia and that Russia should counter intellectual property abuses immediately rather than gradually.
For its part, Russia would agree to open up its insurance market over seven years and agree to cut agricultural subsidies, which the paper said amounted to $9.2 billion annually.
A U.S. deal is the last major hurdle to Russia's membership of the world trade body.