The United States, together with the Group of Seven nations and the EU, intends to deprive Russia of the "most favored nation" trade status. This was reported by Reuters, citing sources.
This measure is seen as another sanction for the full-scale war that Russia has waged against Ukraine.
Depriving Russia of these privileges allows the United States and its allies to impose tariffs on many Russian goods. This will further increase economic pressure.
"The most favored nation" status means that a country has certain trade advantages in the countries that have granted it that status. These can be low customs duty and high import quotas.