On 11 March 2022, President Joseph Biden issued an Executive Order (EO) on Prohibiting Certain Imports, Exports, and New Investment with Respect to Continued Russian Federation Aggression. In conjunction with this EO, the White House also released a Fact Sheet that announced coordinated actions with the European Union (EU) and the Group of 7 nations (G7) that would revoke Russia’s most-favored nation (MFN) trade status and deny it borrowing privileges at multilateral financial institutions. The revocation of Russia’s MFN benefits under the World Trade Organization (WTO) framework requires Congressional action, specifically directed towards revoking Permanent Normal Trade Relations (PNTR) for Russia.
Source EY
Latest Posts in "United States"
- Larimer County Sales Tax Rate Rises to 1.05% Effective January 1, 2026
- Grand Junction Eliminates Vendor Fee: Full Sales Tax Remittance Required Starting January 1, 2026
- San Antonio Eliminates Sports Venue Tax, Updates Local Sales Tax Rates Effective January 2026
- Illinois Sales Tax: Rates, Nexus, Exemptions, and Filing Requirements for Businesses
- 2026 State Sales Tax Updates: Food, Digital Products, Nexus, and Penalties Explained
