President Joe Biden is expected to announce new measures against Russia, in which the United States, along with the G7 countries and the European Union (EU) act to revoke the ‘most preferred country’ status for Moscow.
Biden will reportedly make the announcement on Friday and Congress will then introduce legislation, according to a source who told Reuters.
Each country may also implement this measure based on their own processes.
According to the source, the move was made as an opportunity for the United States and its allies to impose tariffs on various types of Russian goods that will further increase the pressure on the country's economy.
The move comes as U.S. and European officials accuse Russia of committing war crimes for its bombings of civilians in Ukrainian cities.
Russia's removal of Russia's "Permanent Normal Trade Relations" status with the United States is seen as adding pressure on President Vladimir Putin to end the biggest conflict in Europe since World War II.
However, Putin has warned that the West will receive retribution for the sanctions imposed on it and also assured its people that the country can survive the ‘economic war’ and will rise stronger.
