Russia is feeling pretty. the country struck an arms control agreement with the U.S., formed a strategic alliance with NATO and even won the Miss Universe contest. But in some ways the most momentous prize came when the E.U. crowned Russia a full market economy. The move will make it easier for Russia to contest anti-dumping claims, which President Vladimir Putin says could cost more than $1 billion this year, while allowing the country to benefit from lower tariffs and raising its hopes of joining the World Trade Organization. Europe stands to benefit too....
