October 3, 2022

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US, allies to revoke ‘most favored nation’ status for Russia

 President Joe Biden will announce Friday that, along with the European Union and the Group of Seven countries, the US will move to revoke the ‘most favoured nation’ trade status for Russia over its invasion of Ukraine. That’s according to a source familiar with the matter who spoke on the condition of anonymity to preview the announcement. The person said each country would have to follow its own national processes.