WASHINGTON — President Biden said on Friday the United States would ban Russian imports of seafood, vodka and diamonds as the country and its Western allies cut off normal trade ties with Russia in the wake of its invasion of Ukraine.
Biden said it would be “another blow” to Russia and President Vladimir Putin after other efforts by the United States and its allies to isolate the country from international trade.
“The United States and our allies and partners continue to do their best to increase economic pressure on Putin and isolate Russia on the global stage,” Biden said.
House Speaker Nancy Pelosi said Congress plans to vote on legislation to remove normal trade ties with Russia next week at Biden’s request.
“Our president will also be asking us to launch an exchange today, as we are going to do next week, working in a bipartisan manner,” said Ms. Pelosi (D., California) Friday in Philadelphia.
The proposed legislation would end US policy of treating Russia as a most-favored nation, a key World Trade Organization principle that requires member states to ensure equal tax treatment. rules and regulations for other members.
The loss of this status means that some Russian imports will be subject to the higher tariffs currently imposed by North Korea and Cuba.
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https://www.wsj.com/articles/biden-says-u-s-plans-to-revoke-normal-trade-relations-with-russia-11647013389?mod=pls_whats_news_us_business_f Biden moves ahead with ban as West seeks to put pressure on Putin