Image: ReutersPresident Joe Biden has announced that the United States would suspend normal trade relations with Russia, in just the latest coordinated move with G7 and EU nations toThe move would allow for the imposition of tariffs on Russian exports including seafood, vodka and diamonds – in the latest crushing blow to the flailing Russian economy.
“Each of our nations is going to take steps to deny most favored nation status to Russia. A most favored nation status designation means two countries have agreed to trade with each other under the best possible terms low tariffs, a few barriers of trade, and the highest possible imports allowed in the United States. We call this permanent normal trade relations PNTR. But it’s the same thing. Revoking PNTR for Russia is going to make it harder for Russia to do business with the United States.
Biden also announced that the G7 would seek to deny Russia’s ability to borrow from leading multilateral institutions such as the International Monetary Fund and the World Bank. “Putin is an aggressor. He is the aggressor. And Putin must pay the price. He cannot pursue a war that threatens the very foundations which he’s doing, the very foundations of international peace and stability, and then ask for financial help from the international community. We’re going to continue to stand together with our allies in Europe and send an unmistakable message – we’ll defend every single inch of NATO’s territory with the full weight of the united and galvanized NATO.
“The war of Russia against Ukraine is a global issue now and you will see differently how it will affect, not only Europe, but the whole world. Unfortunately, the most vulnerable will be the poor people. The poor will become poorer. You will see the food security track, a huge humanitarian crisis and an environmental catastrophe.”
👋
Good, any thing that will put paid to this evil monsters hold on Russia! He has to disappear for good!
He can't punish Russia without hitting the man on the street in America. He will try to justify it that he had no choice but families suffering and excuses wont help him get reelected.
Hypocrisy.
Congratulations to him! 👍🤣
US to 'suspend normal trade', so are secret deals fair game, why not say suspend all trades of all kinds... playing word games...hope they don't force 3rd world countries who depend on these trades
It's similar to adding more water to a bully's oros at school for beating up. Aca fellow student. Aaaaaaiiiiiiii y neh. It's hard being zelensky