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. Last Updated: 07/27/2016

Russia, EU to Hold Special Textile Talks

BRUSSELS -- Trade negotiators from Russia and the European Commission will hold special talks on textiles within the next few days in a bid to head off a clash over import quotas, a commission official said Tuesday.

Itar-Tass said Monday that Russia threatened to set import quotas on EU textiles next week if Brussels did not increase its annual quota for Russian textiles.

It quoted Trade Minister Oleg Davydov as saying in an interview that a current EU quota of $150 million a year of textile imports from Russia was insufficient. EU members export some $750 million of textiles to Russia every year, it quoted Davydov as saying.

"We will have a negotiating session with the Russians shortly at which we will try to sort out this question," the official said.