In December 2012, U.S. President Barack Obama signed the Russia and Moldova Jackson-Vanik Repeal and Sergei Magnitsky Rule of Law Accountability Act. What does this law entail and how does it affect Russia-U.S. relations?

What will be an ideal response?

The first part of the law normalizes trade relations with Russia and Moldova by repealing Jackson-Vanik, a law dating back to mid-1970s. At that time, the Soviet Union was a non-market economy and restricted the right of its citizens to emigrate abroad. Jackson-Vanik denied most-favored-nation trading status to any country that blocked emigration rights. However, the Soviet Union broke apart in 1991, Russia has transitioned to a market economy, and today its citizens are free to travel abroad and emigrate. Moreover, Russia joined the World Trade Organization in 2012. For these reasons, Jackson-Vanik is no longer relevant.
The second part of the law is concerned with civil rights issues in Russia at the present time. Sergei Magnitsky was a Russian lawyer who uncovered evidence that Russian government officials had stolen $230 million in tax payments made by the Heritage Capital Management investment firm. When Magnitsky went public with his allegations in 2008, he was arrested. The law calls for the U.S. government to identify by name Russian officials believed to be complicit in Magnitsky's death; those persons will not be allowed to enter the United States and any assets held in the United States have been frozen.