The U.S., the Group of Seven nations and the European Union are moving to revoke Russia’s ‘most favored nation’ status, opening the door for further punitive sanctions and tariffs on Moscow in response to the invasion of Ukraine.
President Biden announces what he calls “another crushing blow to the Russian economy” by revoking “most favored nation” trade status for Russia, meaning it will now be vulnerable to brutal tariffs.
President Biden will announce that along with the European Union and the Group of Seven countries, the U.S. will move to revoke “most favored nation” trade status for Russia over its invasion of Ukraine, a source familiar with the matter says.
What people are saying?
Robert S Korczak Russia is allowing Putin to destroy their own economy and standing in the world. I’m happy to hear there are new sanctions. At this point the scope of sanctions is literally historic.
Brian Hell yeah! I think every American should stop buying products made in Russia or China. And any company or organization that doesn’t do business in these countries can have my money, I love these companies.