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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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Washington and Kyiv will invest $75 million each to kickstart the Ukraine reconstruction investment fund that gives the U.S. special access to mineral sites and other projects in Ukraine, the Economy Minister Oleksii Sobolev told journalists on Sept. 17.

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