The White House conference began and the United States introduced another package of sanctions. Announcements confirmed – Russia will lose the status of “most-favoured-nation clause”.
Joe Biden He also announced a ban on Russian vodka, diamonds and other food products (seafood).
As the US President announced more Penalties Personal issues that will affect the Russian oligarchy.
Russia will not be able to use loans from the International Monetary Fund and the World Bank. Biden also said that the export of luxury goods to Russia would be banned.
What is a “most favored nation” clause?
Hours before the US President’s conference, the media reported that Joe Biden will demand new, tougher sanctions against Russia. It was meant to affect trade. It is noteworthy that normal trade relations with Russia have been severed.
Among other things Take away the so-called Most-favoured-nation clause. This is the principle of non-discrimination against business partners. According to the regulations of the World Trade Organization (In this), the interest negotiated with one country must extend to all WTO trading partners. This could open the way, for example, to higher tariffs on goods imported from Russia.
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