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Biden Scales Down Trade Relations With Russia, Bans Alcohol & Diamond

Russia is being stripped of its status as the "most favored nation."

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US President Joe Biden, during his speech at the White House on Friday, 11 March, significantly scaled down the country's trade relations with Russia by and banning Russian alcohol, diamond, and seafood imports.

Biden said he will ask Congress to strip Russia of its “most-favoured-nation” status.

“We're going to continue to stand together with our allies in Europe and send an unmistakable message. We'll defend every single inch of NATO territory with the full might of the United States and galvanise NATO. We will not fight a war against Russia in Ukraine. Direct confrontation between NATO and Russia is World War III. Something we must strive to prevent,”
Joe Biden, US President
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“He [Russian President Vladimir Putin] hoped to dominate Ukraine without a fight, he failed,” Biden asserted, adding that Putin also failed in his alleged attempt to "fracture" the transatlantic alliance.

After initially pushing back against congressional efforts to impose trade sanctions against Russia, Biden embraced the efforts lawmakers on 11 March.

Around 60 percent of the States' imports from Russia were affected after the first sanctions on Russian gas, coal, and oil.

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