By  on May 7, 2014

WASHINGTON — President Obama said Wednesday he intends to rescind Russia’s eligibility under the Generalized System of Preferences, a program under which developing countries receive duty-free benefits on designated imports to the U.S.

The move came as tensions between Russia and the West continue to grow in light of Russia’s annexation of the Ukrainian peninsula of Crimea in March and subsequent insurgency in Eastern Ukraine by pro-Russian forces. The Obama administration continues to threaten to impose more severe economic sanctions on Russia unless there is a de-escalation in the Ukrainian situation.

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