Biden, EU announce ban on luxury goods exports to Russia

The US will revoke normal trade relations with Russia as the invasion of Ukraine reaches its nineteenth day. An executive order announced by President Joe Biden on Friday includes a ban that will prevent US citizens, businesses, and other entities from exporting, re-exporting, or supplying in any way luxury goods such as clothing, watches, and cars from the US to Russia. The move is expected to be accompanied by similar actions from the European Union and the other members of the Group of Seven (G7), the world's wealthiest liberal democracies that are Canada, France, Japan, Italy, Germany, and the UK.