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US President Joe Biden is speaking from the White House and is expected to announce that the US, along with the G7 and the European Union, will call for the revocation of Russia’s “most favored nation” status, referred to as normal trade relations. permanent in the US. , say sources familiar with the movement for CNN. This action requires an act of Congress.
Each country is expected to implement this measure based on its own national processes. Sources noted the efforts of Congress to cancel Russia’s permanent normal trade relations.
More background: CNN reported Thursday that bipartisan talks in the Senate had taken shape to take more aggressive action on Russia’s trade status – after the White House effectively rejected a bill passed by the House of Representatives banning oil imports. natural gas and russian coal in the usa.
The previous version of the legislation had included a provision that would suspend permanent normal trade relations for Russia and Belarus. But the White House expressed concerns about that part of the bill and it was eventually removed. The bill banning Russian energy imports, which passed the House Wednesday night, simply called for a review of Russia’s status in the World Trade Organization.
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