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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Headlines

    Posted By Global Banking and Finance Review

    Posted on May 16, 2025

    Featured image for article about Headlines

    By Patricia Zengerle

    WASHINGTON (Reuters) - U.S. senators renewed calls on Friday for Congress to pass sanctions on Russia after Russia-Ukraine ceasefire talks showed little progress, but no votes were scheduled on bills introduced six weeks ago aimed at pressuring Moscow to negotiate seriously.

    Kyiv and Moscow's first direct talks in more than three years on Friday ended in well under two hours, with Russia presenting conditions that a Ukrainian source described as "non-starters."

    Russian President Vladimir "Putin will continue stonewalling and slow-walking ceasefire efforts till his economy is hit hard -- isolating it on a financial island," Democratic Senator Richard Blumenthal said in a statement urging a vote on sanctions legislation.

    Blumenthal and Republican Senator Lindsey Graham introduced a bill on April 1 that is intended to make it more difficult for Russia to fund its war by adding provisions like a 500% tariff on imports to the U.S. from countries that buy Russian energy.

    The Senate bill now has at least 73 co-sponsors in the 100-member chamber, although leaders have not indicated when it might be brought up for a vote. A similar measure introduced the same day in the House of Representatives has 28 co-sponsors, also from both parties.

    Graham, who was in Turkey for a NATO foreign ministers meeting this week, called for the bill's passage, criticizing Putin's decision not to attend the talks with Ukraine.

    "When it comes to Russia’s games, enough is enough," Graham said in a statement.

    Since Russia launched its full-scale invasion of Ukraine in 2022 the United States and its allies have added layer upon layer of sanctions on the country. While the measures have been painful for Russia's economy, Moscow has found ways to circumvent the sanctions and continue funding its war.

    Aides to the Republican leaders of the Senate and House did not immediately respond to requests for comment.

    House leaders have been focused this week on President Donald Trump's sweeping tax bill, which failed to clear a procedural hurdle on Friday.

    (Reporting by Patricia Zengerle; Editing by Cynthia Osterman)

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