RUSL - U.S. set to revoke Russia's favored trade status Moscow hits back

President Biden will tack on to the "mother of all sanctions" today, calling for an end to normal trade relations with Moscow. The decision, which will be taken along with the EU and G7 countries, will revoke Russia's "most favored nation" status, clearing the way for increased tariffs on imports. Russia sells about a third of its exports to the European Union, compared to around 5% to the U.S., according to data from the International Monetary Fund. Fighting back: Moscow announced an export ban on more than 200 products, ranging from fertilizer and agricultural machinery to telecoms and turbines. However, it stopped short of limiting sales of energy and raw materials, the nation's largest contribution to global trade. Vladimir Putin also said he would find "legal solutions" to seize assets based in the country from international groups that have decided to close their operations, like "introducing external management and then

For further details see:

U.S. set to revoke Russia's favored trade status, Moscow hits back