U.S. pushes for Russian oil embargo, steep tariffs and shutting Russia out of the WTO

U.S. pushes for Russian oil embargo, steep tariffs and shutting Russia out of the WTO

The Globe and The Mail

U.S. House of Representatives Speaker Nancy Pelosi says legislation to ban Russian oil imports will also allow for steep tariffs on other Russian goods and start the process of shutting the country out of the World Trade Organisation.

The move is the latest effort by Congress to turn up the pressure on President Joe Biden to go further in punishing Russian President Vladimir Putin over his invasion of Ukraine.

In a letter to Democratic legislators late Sunday, Ms. Pelosi reiterated her backing for an embargo on Russian oil. She said the ban would go further than this: it would also include other Russian “energy products”; “repeal normal trade relations with Russia and Belarus,” which would allow the U.S. to impose steep punitive tariffs on imports; and “take the first step to deny Russia access” to the WTO…

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U.S. pushes for Russian oil embargo, steep tariffs and shutting Russia out of the WTO

 

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