U.S. moves to end normal trade relations with Russia

The U.S. is moving to revoke Russia's "most favored nation" trade status in what President Biden called Friday "another crushing blow" against the country over its invasion of Ukraine.

Driving the news: "We're going to continue to stand together with our allies in Europe and send unmistakable message. We'll defend every single inch of NATO territory of the full might of the united and galvanized NATO," Biden said.

Biden said House Speaker Nancy Pelosi had agreed to wait to move forward on revoking normal trade relations with Russia until he "could line up all of our key allies," adding that "unity among our allies is critically important."

Pelosi said Friday that the House next week will "take up legislation to formalize this revocation, and it is our hope that it will receive a strong, bipartisan vote," according to a statement.