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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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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on February 26, 2025

    Featured image for article about Headlines

    By Olivia Le Poidevin

    GENEVA (Reuters) - The United States on Wednesday abstained from a statement by members of the World Trade Organization condemning Russia's aggression in Ukraine, a diplomatic source and a Geneva trade official told Reuters.

    It is the first time the U.S. has not supported the statement that has been issued each year since Russia's full-scale invasion of Ukraine in February 2022, in another signal of a shift in ties with Russia.

    Forty-four WTO members and Ukraine signed it, including the European Union, Britain, Canada and Australia.

    "The decision not to co-sponsor was made in keeping with our position in the United Nations Security Council and U.N. General Assembly earlier this week", a U.S. official told Reuters.

    The Security Council on Monday adopted a U.S.-drafted resolution that took a neutral position on the conflict - highlighting the dramatic change in Washington's position since President Donald Trump took office in January.

    The WTO statement condemned the devastating impact of Russia's full-scale invasion of Ukraine on people's lives and Ukraine's economy.

    "We are gravely concerned about the consequences of this destruction for Ukraine and for global trade", including the supply of agricultural products, fertilizers and minerals from Ukraine to international markets, it added.

    Ukraine on Wednesday underwent a Trade Policy Review that aims to enhance transparency and understanding of WTO members' trade policies and practices.

    Ukrainian President Volodymyr Zelenskiy said on Wednesday Ukraine and the U.S. had struck an initial minerals deal, which could provide security guarantees to Ukraine to ensure a lasting and fair peace.

    The deal is at the heart of Kyiv's push to win over Trump's robust support as the U.S. president strives to clinch a rapid end to the war with Russia that Ukraine's supporters fear could come at the expense of its national interests.

    (Additional reporting by Emma Farge,; Editing by Ludwig Burger, Alexandra Hudson)

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