EXPLAINER: Russia is not a 'most favored nation.' What now?

With Congress voting to suspend normal trade relations with Russia and ban the importation of its oil, President Joe Biden’s action to tighten the U.S. squeeze on Russia’s economy now can intensify

WASHINGTON -- With Congress voting to suspend normal trade relations with Russia and ban the importation of its oil, President Joe Biden's action to tighten the U.S. squeeze on Russia's economy now can intensify.

The action Thursday by the U.S. House and Senate to revoke Moscow's “most favored nation" trade status and ban oil imports intensifies the U.S. response to Russia's invasion of Ukraine amid mounting reports of atrocities. Lawmakers showed overwhelming support for action striking at Russia’s economy, with the two separate bills each passing the Senate 100-0 and garnering near-unanimity in the House.

Last month Biden moved, with European and other key allies, to revoke Moscow’s normal trade status. He also has taken executive action to ban U.S. imports of Russian oil, liquefied natural gas and coal. Also banned are imports of Russian seafood, alcohol and diamonds.

Biden can now sign the new legislation into law. The bill to end normal trade relations with Russia opens the way for Biden to impose higher tariffs on various imports, such as certain steel and aluminum products, further weakening the Russian economy under President Vladimir Putin. It also ensures that Moscow ally Belarus receives less favorable tariff treatment.