The European Union is finalizing the withdrawal of the status of “most favored nation” to Russia under the rules of the World Trade Organization (WTO), as confirmed on Thursday by community spokesperson Miriam García Ferrer, within the framework of the sanctions that the EU is imposing on Moscow for the invasion of Ukraine.

https://www.laestrella.com.pa/internacional/mundo/220310/ue-prepara-retirar-rusia-ventajas-arancelarias-acuerdo-omc

“It will be announced very soon”, indicated García Ferrer during the daily press conference of the European Commission.

The spokeswoman explained that there was already “strong support” for this measure by member states last Friday, during a meeting of the Trade Policy Committee of the EU Council.

“Now, we are in discussions to adopt them internally as well,” while continuing to “talk to like-minded partners for joint action.”

He also specified that the measures to remove Russia from the status of “most favored nation”, which will entail increasing tariffs on products from that country that enter the EU, “will be adopted on the legal basis of the sanctions” that the Twenty-seven are imposing for aggression on Ukraine.

On March 3, Canada already announced the withdrawal of the “most favored nation” status from Russia and Belarus, which led to a 35% increase in tariffs on products originating from those countries.

The EU has already launched a battery of sanctions for the economies of Russia and Belarus (for their collaboration in the Russian invasion of Ukraine), which include restrictions on operations with the Russian Central Bank or the exclusion of the SWIFT communication system from several Russian and Belarusian banks.