Ukraine invasion: US Congress votes to end normal trade relations with Russia

Ratcheting up pressure on Russia, the US Congress on Thursday voted to end normal trade relations with Moscow over the invasion of Ukraine.

Through the legislation, US President Joe Biden can inflict steep hikes on imports such as steel and aluminum products from both Russia and its ally Belarus.

According to Senate Majority Leader Chuck Schumer, "Russian President Vladimir Putin must absolutely be held accountable for the detestable, despicable war crimes he is committing against Ukraine: the images we have seen coming out of that country... are just pure evil."

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"It reminds us of the worst moments in human history, caused by the evil man, Putin: hundreds of civilians murdered in cold blood."

Hailing the latest actions against Russia, House Speaker Nancy Pelosi said, "Putin's aggression and barbaric war crimes have horrified the world and demand a strong response."

It comes after the United States removed Russia's so-called most favoured nation status which requires countries to guarantee regulatory treatment as well as equal tariffs towards one another.

Meanwhile, US Deputy Treasury Secretary Wally Adeyemo told Reuters that "The United States and its allies have a lot more that we can and we will do" to punish Moscow if Russia fails to halt its invasion.

After facing a plethora of sanctions from the West, the Russian economy is going into a ''deep recession'' as per US Secretary of State Antony Blinken.

"And what we're seeing is a likely contraction of the Russian economy by about 15 percent," he told NBC News in a statement.

"That is dramatic... We've seen an exodus from Russia of virtually every major company in the world. And Putin, in the space of a matter of weeks, has basically shut down Russia to the world."

Last year, the US had imported crude oil worth $17.5 billion and $30 billion in goods from Russia.

(With inputs from agencies