US, European allies intensify economic pressure on Russia

The United States, European Union, and other allies yesterday escalated their economic pressure on Russia, moving to strip Moscow of privileged trade and economic treatment among other steps to punish it for its invasion of Ukraine.

US President Joe Biden said the new actions collectively will further hobble a Russian economy already weighed down by previously announced international sanctions that have cratered the rouble and forced the stock market to close.

Referring to ending normal trade relations...