Law360, New York (June 5, 2012, 1:30 PM EDT) -- U.S. businesses are eager to benefit from Russia's accession to the World Trade Organization once the Russian State Duma ratifies the membership terms, as expected this summer. As various U.S. Senate committees are holding hearings to decide whether to support graduating Russia from the controversial Jackson-Vanik amendment (Section 402 of the Trade Act of 1974, as amended; 19 U.S.C. 2432) and to extend to Russia permanent normal trade relations status, a number of major U.S. companies (including General Electric Co., The Boeing Co., Caterpillar Inc., Ford Motor Co., General Motors and Deere & Co.), trade organizations (including the U.S. Chamber of Commerce, the U.S.-Russia Business Council and the American Chamber of Commerce in Russia) and even Russian political opposition leaders are lobbying Congress to remove Russia from the outdated Soviet-era trade restrictions....