By a vote in Congress, the USA officially canceled its preferential trade regime yesterday, Thursday (7/4) Russia and her Belarusin retaliation for him war in Ukrainethus paving the way for the imposition of punitive duties on the two states.
In coordination with US allies in Europe, US President Joe Biden announced the measure last month. in order to “further isolate Russia on the world stage”, but the decision had to be ratified by the House of Representatives and the Senate. He secured widespread support from both parties in both houses of the US Congress.
Depriving Russia of the status of “most-favored-nation”, which is mutually exclusive in the context of so-called free trade, Westerners end de facto free trade with these two countries and gain the right to impose heavy tariffs on imports of Russian and Belarusian products.
In the US, only two other countries currently lack the preferential trade regime essential to international trade: Cuba and North Korea.
Last year, the United States imported $ 30 billion worth of Russian goods – including $ 17.5 billion worth of crude oil. However, Washington has already imposed an embargo on Russian oil.
The draft law that approved it Congress It also predicts that the United States will demand a suspension of Russia’s participation in the World Trade Organization.
Congress also approved a ban on all imports of Russian energy, coordinating its move with President Biden, who announced an embargo on these raw materials in early March with an executive order.
The United States has blacklisted a Russian shipbuilding and diamond mining company
Alongside, US Treasury Department announces sanctions on two more Russian-controlled companies.
The first is Alrosa, a giant in the diamond mining sector, representing 90% of the diamonds mined in Russia and 28% of the global supply. The group was already facing sanctions, which the US government extended.
The second is United Shipbuilding Corp.Russia’s largest shipbuilder, which builds “almost all” of the Russian Navy ships, according to a press release released by the US Treasury Department.
All these added to the new barrage of sanctions adopted by Western countries in recent days to reduce Vladimir Putin’s economic and financial ties to the rest of the world.
Source: News Beast

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