G-7 to take steps to strip Russia of trade benefits as WTO member

The United States, Japan and other Group of Seven industrialized nations on Friday agreed to take steps to strip Russia of trade benefits it has enjoyed as a member of the World Trade Organization, ratcheting up pressure on Moscow following its invasion of Ukraine.Ending benefits such as low tariffs and few trade barriers in unison with other nations that make up half of the global economy will be another "crushing blow to the Russian economy," U.S. President Joe Biden said at the White House as he announced a fresh set of sanctions the G-7 leaders have agreed on.According to a joint statem…READ FULL ARTICLE