27 November 2024,   18:23
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The House approves a bill to suspend trade relations with Russia and Belarus

The House of Representatives overwhelmingly approved legislation suspending normal trade relations with Russia and Belarus, another move by Congress designed to squeeze Russia’s economy as its military continues assaulting Ukraine.

The U.S. currently extends “most favored nation” status to all countries but two, North Korea and Cuba.

The White House backs the bill. It gives President Biden authority to increase tariffs on products from the two countries through January 1, 2024. It also suspends Russia’s participation in the World Trade Organization. It indicates that the president can restore trade relations if Russia and Belarus cease all aggression against Ukraine, but establishes a process for Congress to block that if it disagrees.

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