Biden to announce Friday that US will move to revoke 'most favored nation' status for Russia

President Joe Biden to announce the US, along with the G7 and EU, will move to revoke permanent normal trade relations with Russia, sources say.

President Joe Biden will announce Friday that the US, along with the G7 and European Union, will call for revoking"most favored nation" status for Russia, referred to as permanent normal trade relations in the US, sources familiar with the move tell CNN.

The move requires an act of Congress.Each country is expected to implement this measure based on its own national processes. The sources made note of congressional efforts to revoke Russia's permanent normal trade relations. Biden will make the announcement Friday and Congress then is expected to introduce legislation.

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