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US House Voted to End Trade Relations with Russia and Belarus

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In a 424-8 vote, the US House of Representatives passed a bill to suspend normal trade relations with Russia and Belarus.

If the Senate approves the bill, prices for products from Russia and Belarus will be increased to January 1, 2024. As a result, Russia will be excluded from the World Trade Organization (WTO), and Belarus’ application for WTO membership will be suspended. Also, the reduced trade with the US will significantly weaken Russian and Belorusian economies.

The main reason for implementing heavy trade sanctions against Russia is its ongoing war in Ukraine. In the House’s act, Belarus was described as “led by ruthless dictator Aleksander Lukashenka” and “providing important material support to the Russian Federation’s aggression.”

For more information in detail, see the “Suspending Normal Trade Relations with Russia and Belarus Act.” introduced by the House representatives.

Also read:The International Court Ordered Russia To Cease Aggression in Ukraine

The United Nations’ highest court ruled Russia to “immediately suspend the military operations that it commenced on February 24.” B...

Previously, the EU also imposed strict energy and trade sanctions against Russia. On March 9, President Joe Biden banned the US import of Russian oil which caused rising gas prices in the US.

Article by Yevheniia Savchenko

Yevheniia Savchenko is a Legal Writer at Lawrina. Yevheniia browses through the most interesting and relevant news in the legal and legaltech world and collects them on Lawrina’s blog. Also, Yevheniia composes various how-to guides on legaltech, plus writes product articles and release notes for Loio, AI-powered contract review and drafting software.

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