INSUBCONTINENT EXCLUSIVE:
Congress voted Thursday to end normal trade relations with Moscow and codify the ban on Russian oil, as the White House ratchets up pressure
Joe Biden to inflict steep tariff hikes on imports from both countries.Biden announced the steps in a speech last month arguing that Russia
must "pay the price" for the bloodshed in its ex-Soviet neighbor, where it has denied accusations of committing atrocities."Putin must
absolutely be held accountable for the detestable, despicable war crimes he is committing against Ukraine: the images we have seen coming
are just pure evil," said Senate Majority Leader Chuck Schumer."It reminds us of the worst moments in human history, caused by the evil man,
Putin: hundreds of civilians murdered in cold blood."A key principle of the World Trade Organization, the so-called most favored nation
status known in the United States as permanent normal trade relations (PNTR), requires countries to guarantee one another equal tariff and
regulatory treatment.The latest trade sanction, which passed the House with support from every Democrat and just a handful of Republicans
voting no, caps several rounds of measures intended primarily to sever Moscow's economic and financial ties with the rest of the world.They
tied to Putin, and freezing the nation's stockpile of cash.Unwavering supportHouse Speaker Nancy Pelosi hailed the latest action as a sign
that the United States was "unwavering" in its commitment to support Ukraine and hold Russia to account."Putin's aggression and barbaric war
the brink of a debt default.They have also caused prices for key commodities like gasoline and wheat to soar, harming U.S
consumers already facing the highest inflation in four decades.The United States imported just under $30 billion in goods from Russia last
year, including $17.5 billion in crude oil.The legislation includes a measure to reauthorize Magnitsky Act sanctions that target human
rights violations and corruption with visa bans, asset freezes and other penalties
country's banks and senior officials
we're seeing is a likely contraction of the Russian economy by about 15%," he said."That is dramatic..
We've seen an exodus from Russia of virtually every major company in the world
