President Biden To Ban Imports , of Russian Vodka, Diamonds and Seafood.
CNBC reports that on March 11, President Biden issued an executive order halting imports of Russian products, such as diamonds, seafood and alcohol.
CNBC reports that on March 11, President Biden issued an executive order halting imports of Russian products, such as diamonds, seafood and alcohol.
According to a White House fact sheet, the move will help to ensure that America isn't "underwriting" Putin's war in Ukraine.
It will reportedly block over
$1 billion in Russian revenues.
The order also stops the export of "luxury items" to Russia, such as jewelry, clothes, liquor and vehicles.
The order also stops the export of "luxury items" to Russia, such as jewelry, clothes, liquor and vehicles.
The White House says these restrictions amount to about $550 million per year.
President Biden also said,
"they're not the last steps we're taking.".
Putin is the aggressor and
Putin must pay the price, President Joe Biden, via statement.
The president also called on America to rescind Russia's "most favored nation" trading status.
CNBC reports the EU and Group of Seven nations are expected to follow suit, which would pave the way for more extreme tariffs