Russia without MFN clause
21:24
As announced, US President Joe Biden has stripped Russia of the most-favored-nation trade clause, which allows it to raise tariffs on Russian goods. Today, similar sanctions against Russia will be introduced by the EU. In addition, Biden has banned the import of vodka, diamonds, and seafood from Russia.
These are the next US sanctions against Russia this week. A few days ago, President Joe Biden announced a ban on the importation of crude oil, fuels, and gas from Russia to the United States.
But that's not the end of bad news for Russia. Similar sanctions will be introduced by the European Union and other G7 countries. This information was confirmed on Friday by the head of the European Commission Ursula von der Leyen via social media.
“We will deny Russia the status of the most favored country in our markets, undoing important WTO benefits. We will also work on the suspension of its membership rights in multilateral financial institutions such as the IMF and the World Bank,” von der Leyen tweeted.
