Biden: US to revoke permanent normal trade relations with Russia

In a public address at the White House, US President Joe Biden confirmed on Friday that US would revoke permanent normal trade relations (PNTR) with Russia.

US allies would also announce new actions against Russia on Friday, Biden said. The US is also to ban the imports of Russian luxury goods, diamonds, seafood and Vodka.

“The G7 will step up pressure on Russia by applying additional sanctions to Russian oligarchs, Biden announced, noting that the totality of our sanctions and export controls on Russia are crushing their economy”, Biden added.