President's Biden moves to revoke Russia's trade relations status

The President of the United States has just finished his speech regarding new sanctions against Russia. The US has decided to ban the import of Russian alcohol, seafood and diamonds. In addition, a ban on the export of luxury goods to Russia will come into force. America will not start a direct conflict with Russia, but Biden announced that if Putin used biological weapons, the consequences would be severe. President Biden described Putin as the aggressor who must pay the price. The US president will sign another document guaranteeing financial aid for Ukraine.

The White House announced that by executive order, President Biden will prohibit future US investments in any sector of the Russian economy. Russia is cut off from obtaining funding from the IMF or the World Bank. Sanctions are imposed on the presidents of Russian banks and members of the State Duma. The US is looking for other nations to join the US in revoking PNTA relations. 

President's Biden speech did not trigger any major moves on the markets. US30 moved slightly higher and is testing local resistance at 33410 pts. Source: xStation5