Biden to join allies in revoking Russia's favored trade status

FILE PHOTO: House Speaker Nancy Pelosi (D-CA) speaks at a Women's History Month event "honoring Billie Jean King and women athletes in celebration of the 50th anniversary of Title IX", at the United States Capitol building in Washington, U.S., March 9, 2022. REUTERS/Evelyn Hockstein

WASHINGTON (Reuters) -President Joe Biden will move on Friday to revoke Russia's "most favored nation" trade status, joining with allies to punish Moscow over its invasion of Ukraine.

Biden will announce the plans at the White House at 10:15 a.m. EST (1515 GMT).