The House on Thursday passed a bill to suspend normal trade relations with Russia and Belarus in response to Vladimir Putin’s unprovoked attack on Ukraine.
Why it matters: The bill would raise tariffs on goods from Russia and Belarus and give President Biden power to impose even stricter import taxes on their exports.
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Lawmakers voted 424-8 in favor of the bill. It now heads to the Senate.
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Biden announced his support for the measure last week.
The big picture: Russia’s economy is already suffering from economic sanctions, with the International Monetary Fund predicting that it will fall into a “deep recession” this year.
What to watch: Senate Majority Leader Chuck Schumer said on Thursday he will work quickly to move the bill through the Senate.
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“Both parties remain united in sending Putin a clear message: His inhumane violence against the Ukrainian people will come at a crippling price, and today’s step by the House is another way we’re making that come true,” Schumer said.
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“I will work with my colleagues to find a way to move it through this chamber quickly.”
Go deeper: The latest on the Russia-Ukraine crisis
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