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US, EU, G7 to strip Russia of favored trade status.

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U.S. President Joe Biden has stated that the U.S., the EU and G7 will strip Russia of its permanent normal trade status, allowing the countries to raise tariffs on Russian goods. Biden also said that the U.S.and G7 would seek to deny Russia the ability to borrow funds from “leading multilateral institutions” such as the International Monetary Fund and World Bank.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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As global attention has shifted to Ukraine’s energy crisis, the fighting on the eastern front has not slowed. The Kyiv Independent’s Francis Farrell speaks with Volodymyr Polevyi, head of public affairs for the 7th Rapid Response Corps of the Air Assault Forces, about the battle for Pokrovsk and Myrnohrad in Donetsk Oblast.

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