Nature

‘Most favored nation’: Biden to announce US to revoke Russia’s status

The move requires an act of Congress.

Each country is expected to implement this measure based on its own national processes. The sources noted congressional efforts to revoke Russia’s permanent normal trade relations.

Biden will make the announcement on Friday, and Congress is expected to introduce legislation then.

CNN reported earlier Thursday that bipartisan talks in the Senate have taken shape to take more aggressive action on Russia’s trade status – after the White House effectively watered down the bill passed by the House banning the import of Russian oil, natural gas and coal in the United States.

The previous version of the legislation included a provision that would suspend permanent normal trade relations between Russia and Belarus. But the White House expressed concerns about this part of the bill, and ultimately it was deleted. The bill banning Russian energy imports that passed the House on Wednesday night simply called for a review of Russia’s status in the World Trade Organization.

Senate Finance Chairman Ron Wyden, a Democrat from Oregon, told CNN he is engaging in talks with top tax writers in Congress and the Biden administration on the matter, as pressure mounts to include tougher language in the House bill when the Senate takes it. up — starting next week.

“I believe that the Russians – Russia’s inhumane behavior does not justify it to get the fruits of the international community,” Wyden told CNN.

Sen. Mike Crapo, a Republican from Idaho and a top Republican on the Finance Committee, said he likely wouldn’t support the House bill without stronger language about its trade status — and clearly indicated that there would be an effort to modify it.

“The question is the PNTR, which is absent. And then they had other WTO stuff in there, which is a bit hollow if we don’t do the PNTR,” Crapo said earlier today. . “So I probably wouldn’t support it because it doesn’t have the key elements you need for a proper trade response.”

This story was updated with additional details on Thursday.


cnn

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