The President of America, Joe Biden, will have an announcement this Friday that the country of the U.S., European Union, and other G7 countries will all revoke the status of ‘Most favored nation’ for the country of Russia. However, in order to fulfill this move of Joe Biden, Congress must be involved.
What Is The Next Step That Joe Biden Would Take Against Russia?
Each and every country that is thinking to implement this action are considering their own national processes. There were some parliamentary efforts, as per sources reveal, to abolish the permanent status of Russia from the common trade relations.
The announcement will probably be made on Friday by Joe Biden after which Congress will take action and introduce the legislation as soon as possible. On Thursday, there was a report from CNN which stated that the bipartisan bill is being debated in the Senate to take more violent steps for Russia and their trade. However, the White House also declined the ban on Russian oil, coal, and natural gas that are imported into the U.S.
The previous version of the bill had a provision to dismiss Belarus and Russia from permanent trade relations. The decision to ban energy resources from Russia was diluted and later on it was decided that only its status in WTO will be reviewed. Ron Wyden, the Finance Chairman of the Senate spoke about this matter to CNN where he said that pressure is growing to put more aggressive language in the bill.
In addition to this, Ron Wyden also stated that according to him the behavior of Russia has been too inhuman during the war and thus the country must not get any benefits from the international community.
Mike Crapo, another senator, also stated that more harsh steps must be taken against Russia by Joe Biden and his Government, and until the strict language is not included in the bill, he will not support it. The PNTR is also absent and it is a shallow step for Americans to replace it with WTO regulation.