The US House of Representatives voted Thursday to suspend “most favored nation” status with Russia in trade, further choking the Russian economy after the attack on Ukraine.
The Senate is expected to swiftly pass legislation, which also includes Moscow’s ally, Belarus, allowing President Joe Biden to raise tariffs on imports from both countries.
“Senators and the White House have been working together for weeks to come up with a strong and effective bill that would be more painful to Putin’s Russia and acceptable to our European allies,” Senate Majority Leader Chuck Schumer said.
“So far the Democratic and Republican parties have remained united in sending a clear message to Putin: the inhuman violence he inflicts on the Ukrainian people will come at a heavy price, and the step taken today by the House of Representatives is another way to have worked and achieved. “, he added.
The International Monetary Fund predicts that sanctions will drag Russia along in a “deep recession” quest’year.
The Chamber also urged the U.S. trade representative to use Washington’s voice and influence to push for the suspension of Russia and Belarus from the World Trade Organization.
The bill, passed by the House of Representatives, gives Biden the power to restore normal trade relations “if these countries stop their aggressive actions against Ukraine and certain other conditions are met”.
Schumer said he expected the move to gain “broad bipartisan support” in the Senate and pledged to work on it.
The United States currently has normal trade relations with most countries with the exception of Cuba and North Korea.
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