Economic news
U.S. Senate backs removal of ‘most-favored’ trade status for Russia
2022.04.07 17:56
FILE PHOTO: A bird flies by the United States Capitol building in Washington, U.S., March 17, 2022. REUTERS/Emily Elconin/File Photo
WASHINGTON (Reuters) – The U.S. Senate backed legislation on Thursday that would remove “most favored nation” trade status for Russia and Belarus over the invasion of Ukraine, which would allow higher tariffs on imports from the two countries.
As voting continued, a majority of the Senate backed removing Permanent Normal Trade Relations (PNTR) status, the latest effort in Congress to put economic pressure on Moscow and close ally Belarus.
