The United States and allies have decided to exclude Russia from the normal reciprocal regime governing world trade, opening the way for the imposition of sanctions tariffs, US President Joe Biden announced on Friday, as quoted by Negócios newspaper.

"We are also taking additional steps to ban key sectors of the Russian economy, including seafood, vodka and diamonds," Biden added, referring to the new economic sanction measures because of Russia's invasion of Ukraine, which removes Moscow from so-called "most favored nation" status.

The United States and allies have decided to exclude Russia from the normal reciprocal regime governing world trade, paving the way for the imposition of sanctions tariffs, US President Joe Biden announced Friday.

"We are also taking additional steps to ban key sectors of the Russian economy, including seafood, vodka and diamonds," Biden added, referring to the new economic sanction measures because of Russia's invasion of Ukraine, which removes Moscow from so-called "most favored nation" status.

The "most favored nation" clause - known in the United States as the "normal permanent trade relationship" - is the cornerstone of international free trade and refers to a principle of reciprocity and non-discrimination that currently governs most trade relations between states.