3/11, 4:34 PM (Source: TeleTrader)
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G7 to deny most favored nation status to Russia - Biden

United States President Joe Biden announced the G7 nations will revoke the most favored nation from Russia as part of economic sanctions. The G7 will also ban imports from several "signature sectors" of the Russian economy, including seafood, vodka and diamonds, as well as prohibit exports of luxury goods to Russia.

Biden added the G7 partners will seek to deny Russia the ability to borrow from leading multinational institutions, such as the International Monetary Fund (IMF) and the World Bank. They will also add new names to the list of Russian oligarchs targeted by sanctions and increase coordination to target and capture their assets.

Baha Breaking News (BBN) / DJ