Revoking regular commerce relations would come on high of sanctions already in place.
Ting Shen/Bloomberg by way of Getty Images
This story is a part of War in Ukraine, CNET’s protection of occasions there and of the broader results on the world.
President Joe Biden on Friday is anticipated to announce that the US, together with the European Union and G7 international locations, will search to halt regular commerce relations with Russia, in keeping with a number of media experiences. The transfer, which requires an act by Congress within the US, would reportedly increase tariffs on many Russian merchandise.
The transfer is the most recent try by the US and different international locations to impose financial penalties on Russia for its struggle on Ukraine. If accepted, Russia would lose its “most favored nation” buying and selling standing, which permits items to maneuver between international locations at decrease tariff charges, in keeping with The New York Times.
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Late Thursday, the Senate handed a $1.5 trillion authorities funding invoice, which incorporates practically $14 billion in army and humanitarian support to Ukraine.
The president is scheduled to talk later this morning about actions to “proceed to carry Russia accountable” for its struggle on Ukraine. The White House did not instantly reply to a request for remark.