Lawmakers in both parties have pressured the White House to impose increasingly strict penalties on Russia, often beyond the initial comfort level of Biden and his European allies.The background: Biden has faced a careful balancing act while helping to lead a coalition of countries behind unprecedented economic sanctions on Russia. ![]() The bill now heads to the Senate, where Majority Leader Charles Schumer (D-N.Y.) said Thursday he plans to get the bill to Biden’s desk as soon as possible. The Biden administration will additionally be obligated to push for Russia’s removal from the World Trade Organization and oppose Belarus joining the group, which would subject both to higher tariffs and steeper trade barriers.The bill also sets up strict guidelines for when the president can restore normal trade relations with Russia and Belarus based on the state of the Ukraine war.The eight lawmakers who voted against the bill are all Republicans. Lawmakers voted 424 to 8 in favor of legislation to raise tariffs on goods from Russia and Belarus and give President Biden power to impose even stricter import taxes on their exports amid the ongoing invasion of Ukraine.and its allies tighten the economic vice on the Kremlin. ![]() The House on Thursday passed a bill to end normal trade relations with Russia and Belarus as the U.S. Lawmakers seek to limit trade with Russia, Belarus We’ll also look at a historic moment in the White House and the future of additional COVID-19 aid.įor The Hill, we’re Sylvan Lane, Aris Folley and Karl Evers-Hillstrom. Today’s Big Deal: The House advanced a bill meant to further isolate Russia from the global economy. Patrick’s Day and welcome to On The Money, your nightly guide to everything affecting your bills, bank account and bottom line.
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