China News Agency, Washington, March 11 (Reporter Chen Mengtong) US President Biden delivered a speech at the White House on the 11th and announced that the United States will work with the G7 and the European Union to cancel the "most-favored-nation treatment" for Russia.
This is another major sanction measure against the Russian economy after the United States and Europe excluded some Russian banks from the Society for Worldwide Interbank Financial Communication (SWIFT) payment system.
On the 8th, the United States announced an energy embargo on Russia and stopped imports of oil, natural gas and coal from Russia.
The cancellation of Russia's "most-favored-nation treatment" still requires the United States and Europe to pass domestic legislative procedures before they can be implemented.
Biden said that despite many differences in Washington, there should be no problem with bipartisan views in the U.S. Congress on supporting Ukraine and opposing Russian military action.
U.S. House Speaker Nancy Pelosi said in a statement that the House of Representatives will vote next week on a bill to remove Russia's "most-favored-nation" status.
Biden also said on the same day that the United States will take further measures to ban the import of seafood, vodka and diamonds from Russia.
The White House released a joint statement of the leaders of the Group of Seven countries on the same day.
In addition to announcing that the seven countries will cancel Russia's "most-favored-nation treatment" in accordance with their own domestic procedures, the statement also stated that they will take joint measures to prevent Russia from obtaining financing from international multilateral financial institutions, while continuing to impose sanctions on Russian-related individuals and entities.
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