This requires an act of Congress.
Each country is expected to implement this measure based on its own national processes. Sources noted attempts by Congress to undo Russia’s permanent normal trade relations.
Biden will make a statement on Friday, and Congress is expected to introduce legislation.
CNN reported earlier Thursday that bipartisan talks in the Senate are taking shape to take more aggressive action on Russia’s trade status – after the White House effectively softened a House bill that would ban imports of Russian oil, natural gas and coal into the US.
An earlier version of the legislation included a provision suspending permanent normal trade relations between Russia and Belarus. But the White House expressed concern about this part of the bill, and it was eventually dropped. A bill to ban energy imports from Russia, passed by the House of Representatives on Wednesday night, instead simply called for a review of Russia’s status in the World Trade Organization.
Senate Treasury Chairman Ron Wyden, Oregon Democrat, told CNN he is in talks with top tax watchers in Congress and the Biden administration on the issue as pressure mounts to include tougher language in the House bill when the Senate passes it. up next week.
“I believe the Russians — Russia’s inhumane behavior does not justify being rewarded by the international community,” Wyden told CNN.
Senator Mike Crapo, an Idaho Republican and the top Republican on the Finance Committee, said he likely would not support a House bill without clearer language on its trade status and made it clear that attempts would be made to amend it.
“Question in PNTR, which is not. And then they had some other WTO stuff in there that would be empty unless we do PNTR,” Crapo said earlier in the day. “So, I probably wouldn’t back it because it doesn’t have the key things you need to properly respond to a trade.”
This story was updated with additional details on Thursday.