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The Guardian - UK
The Guardian - UK
World
Richard Partington Economics correspondent

G7 nations strip Russia of ‘most favoured nation’ status

United States Russia G7 Vladimir Putin Ukraine United Kingdom MFN Moscow
Vladimir Putin
G7 countries are seeking to ratchet up the economic pressure on Vladimir Putin. Photograph: Mikhail Klimentyev/AP

Western governments have announced plans to impose punitive tariffs on Russian trade to further isolate Moscow from the global economy after the invasion of Ukraine.

In a development aimed at ratcheting up the pressure on Vladimir Putin, the G7 group of wealthy nations said it would strip Russia of “most favoured nation” (MFN) status under World Trade Organization (WTO) rules.

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