Watch Live: Biden announces U.S. will revoke Russia’s “most favored nation” trade status

President Biden is expected to announce on Friday that the United States, the European Union and the G7 countries are revoke the trade status of Russia’s “most favored nation.” about his invasion of Ukraine.

Bipartisan lawmakers have called on him to revoke the status, known as “permanent normal trade relations,” with Russia, a move that allows the U.S. and its allies to impose tariffs on Russian imports.

In recent days, companies such as Starbucks, McDonald’s, Hilton Worldwide Hotels, Coca-Cola and PepsiCo. they have announced changes in their operations in Russia, decisions which, according to the White House, have been taken by companies, regardless of the US government.

The Biden administration has received reports that Russia is considering seizing the assets of countries that have announced their intention to suspend operations in Russia, Psaki he tweeted Thursday night. He said the possible Russian retaliation “would ultimately result in even more economic pain for Russia” and “spread the clear message to the global business community that Russia is not a safe place to invest and do business.”

Russian forces continue to launch airstrikes in Ukraine, including coastal cities.

World leaders are expected to rally on Friday morning after Russia rushes he called a UN Security Council meeting to discuss in an open debate what he called “the military biological activities of the United States in the territory of Ukraine, “led the Biden administration to immediately denounce it as a” false flag effort. “

12 m ago

How to see President Biden’s announcement on Russian trade status