U.S. to Ban Russian Vodka, Caviar, Raising Trade Pressure -Breaking
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© Reuters. U.S. Bans Russian Vodka and Caviar; This Reduces Trade Pressure(Bloomberg) — President Joe Biden announced Friday that the U.S. is banning imports of Russian alcohol and seafood, as the White House looks to ratchet up punishment over Moscow’s invasion of Ukraine.
While the US imports are only a tiny fraction, it affects iconic Russian goods like caviar and vodka. In Friday remarks to the White House on Friday, Biden also called upon lawmakers to remove Russia from its preferential trading status.
An estimated $24.1million in drinks, spirits, vinegar and other beverages is imported annually by the U.S. from Russia. Russian vodkas are made in many other countries, including Latvian-made Stoli. This was done in response to the invasion of Ukraine earlier in this month.
The U.S. imported Russian seafood worth $1.2 billion last year. Russia’s Kremlin accuses the U.S., its allies, of engaging in economic war against Russia.
Wall Street Journal first reported the announcement about alcohol and seafood.
Updates with additional information about Russian vodka starting in the third paragraph
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