Ukraine war: US, G7, EU to strip Russia's 'most favored nation' status
Stripping Russia of its favored nation status paves the way for the United States and its allies to impose tariffs on a wide range of Russian goods.
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Stripping Russia of its favored nation status paves the way for the United States and its allies to impose tariffs on a wide range of Russian goods.
US President Biden, G7 attack Russian economy in latest retaliation to Ukraine invasion - US President Joe Biden said that the moves collectively will deliver
The US, together with the Group of Seven nations and the European Union, will move on Friday to revoke Russia's “most favoured nation” status over its invasion of Ukraine, multiple people familiar with the situation told Reuters.
US, G7 allies to move to strip Russia of 'most favoured nation' status
On Friday, President Biden is expected to call for an end to Russia's "Permanent Normal Trade Relations" (PNTR) status, allowing for higher tariffs on goods coming from Russia, several news outlets reported.