![US and its allies revoke Russia’s ‘most favored nation’ trade status US and its allies revoke Russia’s ‘most favored nation’ trade status](https://exceptionalinsights.group/wp-content/uploads/2022/03/logo_200x200-2.png)
US President Joe Biden said on Friday that the United States, the European Union, and the Group of Seven (G7) nations had decided to revoke Russia’s “most favored nation” trade status over its Ukraine offensive. He announced that Washington would also be introducing a ban on imports of alcohol, diamonds, and seafood from the country.
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