11/03/2022 (Agence Europe) – The G7 countries, meeting in Berlin on Friday 11 March, agreed to withdraw Russia’s ‘most-favoured nation’ status under World Trade Organization (WTO) rules. This status provides that all countries should be treated equally with regard to trade tariffs. The EU last week announced its intention to do so (see EUROPE 12904/5) and US President Joe Biden announced on Friday that he would do the same. This withdrawal will allow higher trade tariffs to be imposed on Russia on certain products. The G7 countries said they were preparing a joint statement with a “broad coalition of WTO members”. The EU is going to adopt sanctions of this type “soon”, according to European Commission spokeswoman Miriam García Ferrer. (LM)