Biden has also announced that the G7 countries will work to close Russia any source of financing from international financial institutions such as the IMF and the World Bank.
The president of United States, Joe Bidentoday announced a ban on importing vodka, diamonds, fish and shellfish from Russia to the US as a penalty for the Russian invasion of Ukraine.
In a televised intervention from the White House, Biden has given more details about the decision advanced yesterday, Thursday, to end his favorable trade deal with Russia and has explained that the objective is to hinder business between Moscow and Washington.
The US president has referred to the products whose importation has been prohibited as “distinctives” of the Russian economy by including, in addition to vodka, the coveted and symbolic caviar.
In addition, he has alerted the Russian president, Vladimir Putin, that his country will pay “a high price” if it uses chemical or biological weapons in Ukraine, at the same time that it has warned that Washington will defend “every inch” from the territory of NATO allies.
However, Biden has insisted that he wants to avoid any direct confrontation between NATO and Russia because that would spell the start of World War III.
“Putin is the aggressor and must pay the price for it”
Biden has also advanced that the G7 countries will work to close Russia any source of financing from international financial institutions such as the International Monetary Fund (IMF) and the World Bank (WB).
“Putin is the aggressor and he must pay the price for it. He cannot continue to make decisions that threaten the foundations of international peace and stability and then ask the international community for financial help,” he said.
Despite having been announced by Biden, the withdrawal of the so-called “most favored nation” treatment from Russia must be approved by the US Congress, something that is expected to go ahead without problem with both Democratic and Republican support.
Ukraine and Canada have already withdrawn from Russia the status of “most favored nation”, one of the fundamental principles of international trade by which the World Trade Organization (WTO).
According to the White House, the rest of the member countries of the G7 and the European Union (EU) They will also follow the same steps.
Source: Eitb
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