Some of Indiana’s members of Congress are joining calls to turn up the heat on Russia.
The U-S and European Union have already blocked Russia’s largest banks from the SWIFT international transaction processing system. Indiana Congressman Andre Carson (D) says he wouldn’t rule out banning all of them. He praises private businesses from Visa to McDonald’s who have announced they’re pulling out of Russia.
President Biden asked Congress on Friday to revoke Russia’s most-favored-nation trading status. That status guarantees the lowest applicable tariffs, and has been granted to every country except Cuba and North Korea. Russia didn’t gain permanent normal trading status until 2012.
House leaders had paused an effort to cancel Russia’s trading status on Tuesday at Biden’s request until the administration could unite European allies behind the move. Canada has already taken that step.
Indiana Congresswoman Jackie Walorski is joining 16 other Ways and Means Committee Republicans in sponsoring a bill to not only cancel Russia’s trade status, but authorize U-S Trade Representative Katherine Tai to increase tariffs on both Russia and its ally Belarus beyond what their trade status alone would dictate.