The U.S. House approves a measure to revoke Russia's most favored nation trade status, sending the bill to the Senate for further consideration.

• The House passed a bill to revoke Russia's most favored nation trade status, paving the way for increased taxes on Russian-made goods.
• The bill is expected to have broad support in the Senate.
• Moscow's invasion of Ukraine has prompted the U.S. to attempt to sanction the Russian economy.

On Thursday, the House approved legislation to remove Russia's protected trading status, paving the way for the U.S. to impose new taxes on Russian goods.

The Senate has broad backing for the measure as the U.S. and its allies intensify efforts to harm Russia's economy due to Moscow's recent three-week attack on Ukraine. President Biden supported the move last week.

The House passed a bill with broad support that would hinder the Russian economy and remove most favored nation status for Belarus, a close ally of Russia, in a 424-8 vote.

The U.S. may remove Russia's "most favored nation" trade status, which would enable the country to impose new taxes on various Russian goods. The White House has collaborated with the European Union and G-7 allies, many of whom have already begun taking steps to suspend normal trade relations with Russia.

The Russian economy has been targeted by the U.S. through various sanctions and restrictions on imports of goods such as oil, alcohol, and seafood.

The Biden administration has attempted to restrict Russia's economy while simultaneously providing military aid to Ukraine in an effort to prevent an invasion. For three weeks, Russia's military has attacked Ukrainian cities, resulting in a rise in civilian casualties as Putin's forces attempt to surround Kyiv.