“Putin’s premeditated, unprovoked war is an attack on the Ukrainian people and an attack on democracy — and the House remains steadfast in our commitment to partnering with President Biden and our allies to level swift, severe punishment and stand with the Ukrainian people,” said House speaker Nancy Pelosi.
President Joe Biden announced Friday the U.S. will dramatically downgrade its trade status with Russia as punishment for its invasion of Ukraine and also ban imports of Russian seafood, alcohol and diamonds, AP reports.
The broad trade shift, which revokes the “most favored nation” status for Russia, is being taken in coordination with the European Union and Group of Seven countries.
“The free world is coming together to confront Putin,” Biden said from the Roosevelt Room of the White House. He also said countries were adding new names to a list of Russian oligarchs who are facing sanctions, and the U.S. is cutting the flow of high-end American products such as expensive watches, cars and clothing.
“We’re banning the export of luxury goods to Russia,” he said.
Biden said there would be further retaliation if Ukraine is targeted with chemical weapons, a possibility that administration officials have warned about in recent days.
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