President Joe Biden will announce a new set of measures against Russia Friday morning for its launch of an “unprovoked and unjustified war” against Ukraine.
President Joe Biden will announce Friday that the U.S., along with the European Union and the Group of Seven countries, will move to revoke “most favored nation” trade status for Russia over its invasion of Ukraine, a senior administration official tells NBC News.
Biden's changes on Russia's trade status come as bipartisan pressure has been building in Washington to revoke what is formally known as “permanent normal trade relations” with Russia. Ukrainian President Volodymyr Zelenskyy pressed the U.S. and allies to take the action against Russia in remarks to Congress over the weekend. It follows days after the Biden moved to ban imports of Russian oil and gas products.
Biden, after initially slow-walking congressional efforts to take the trade action against Russia, was set to embrace lawmaker efforts to do just that on Friday. An act of Congress is required to officially make the move, the administration official said.
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