U.S. President Joe Biden has announced a ban on imports of Russian diamonds, seafood, and vodka in the latest response to Russia’s war in Ukraine.
The U.S., European Union, and other allies also plan to revoke Russia’s status as an equal trade partner, paving the way for further economic punishment.
The latest move is part of a swath of economic sanctions aimed at crippling Russia’s economy.
Its currency has collapsed, while global firms rush to exit the country.
Russian President Vladimir Putin has likened Western sanctions on banks and oligarchs to a declaration of war.
Moscow has also threatened to nationalize production plants or factories where work has been suspended.
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Readers Bureau, Contributor
Edited by Jesus Chan
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