Andrea Shalal, Steve Holland

WASHINGTON, (Reuters) – U.S. President Joe Biden will demand that normal trade relations be ended with Russia following its invasion of Ukraine. This would allow for higher tariffs for Russian imports. Five people who are familiar with the matter told Reuters.

This is the latest in a series of American and allies’ efforts to press Putin to stop the most extensive war in Europe since World War Two.

Russia considers its actions against Ukraine “special”

One senior administration official said that Congress will need to act to eliminate Russia’s “Permanent Normal Trade Relations.” Both houses of Congress, however, have supported such a move.

The unprecedented, severe sanctions placed on Russia’s elites and banks, as well as export restrictions on many technologies have already caused Russia to crash. In fact, the International Monetary Fund now predicts that the country will enter a deep recession this year.

According to the White House, Biden will announce that he would “continue to hold Russia responsible for its unprovoked war on Ukraine”. This announcement was made at 10:15 AM EST (1515 GMT) Friday.

According to one source, the announcement will focus on ending Russia’s trade privileges.

According to U.S. trade representative’s office, Russia was 26th most important goods partner in 2019. There were approximately $28 billion of goods traded between the countries.

Mineral fuels, precious metals, and stones, as well as iron and steel were the top Russian imports. If Congress does not remove Russia from its favored nation status, then these goods may be subject to increased tariffs.

Biden, on Tuesday, had placed an immediate embargo on Russian oil imports and energy.

To show solidarity with Ukraine, U.S. Governors have ordered liquor stores run by government to cease selling Russian-made vodka or distilled spirits.