Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    Global Banking & Finance Review® is a global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure. Global Banking & Finance Review® operates a Digital-First Banking Awards Program and framework — an industry-first digital only recognition model built for the modern financial era, delivering continuous, transparent, and data-driven evaluation of institutional performance.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & 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.

    1. Home
    2. >Finance
    3. >Senate Democrats blast Trump for failing to use sanctions to pressure Russia
    Finance

    Senate Democrats blast Trump for failing to use sanctions to pressure Russia

    Published by Global Banking & Finance Review®

    Posted on February 24, 2026

    4 min read

    Last updated: February 24, 2026

    Senate Democrats blast Trump for failing to use sanctions to pressure Russia - Finance news and analysis from Global Banking & Finance Review

    Quick Summary

    Senate Banking Committee Democrats say Trump has failed to expand Russia sanctions, lagging far behind EU actions. They cite a stalled bipartisan energy bill as Treasury links further measures to Ukraine peace talks.

    Table of Contents

    • Senate Banking Democrats Challenge Trump’s Russia Sanctions Approach
    • Biden vs. Trump Sanctions Activity
    • Bipartisan Energy Sanctions Bill Stalled
    • New Treasury Designations and Response
    • Treasury Not Available for Comment
    • Shadow Fleet Oil Tankers
    • China and Hong Kong Suppliers
    • Unaddressed Sanction Targets
    • Central Asian Banks
    • EU/UK-Designated Facilitators
    • Human Rights Abusers

    Senate Democrats Fault Trump for Not Using Sanctions to Pressure Russia

    By Andrea Shalal

    Senate Banking Democrats Challenge Trump’s Russia Sanctions Approach

    WASHINGTON, Feb 24 (Reuters) - Democrats on the Senate Banking Committee on Tuesday blasted President Donald Trump for failing to ramp up sanctions to pressure Russia to end its war in Ukraine that has now lasted four years, noting the European Union had designated nearly 900 targets in 2025 compared to just two for the U.S.

    In an analysis released on the fourth anniversary of Russia's invasion, Democratic staff on the Republican-led panel identified hundreds of potential sanctions targets they said could have been imposed by Trump during his first year in office. The war has killed hundreds of thousands and devastated swathes of Ukraine, Russia's neighbor to the west.

    Biden vs. Trump Sanctions Activity

    Democratic President Joe Biden, whose term ended in January 2025, rolled out at least 32 sanctions packages in each of the first three years of the war, they said. By comparison, Trump announced just one package of major sanctions - targeting Russian oil majors Lukoil and Rosneft - despite increased Russian attacks that have targeted Ukrainian civilians and decimated its power grid.

    Trump has pressed Ukraine to agree to a ceasefire deal that could entail painful concessions of land captured by Russian forces. Talks between Russia and Ukraine have thus far failed to produce a breakthrough. The White House was not immediately available for comment.

    PROPOSED BILL LANGUISHES

    Bipartisan Energy Sanctions Bill Stalled

    A bipartisan bill in Congress that would impose sanctions on countries that buy Russian oil, gas, and uranium has the support of 85 of 100 senators, but Republican leaders have not brought the bill up for a vote because of resistance from Trump.

    The Democratic report noted that Russia remains enormously dependent on imports of key technologies required for the war, creating opportunities for sanctions.

    "It is unclear why any president serious about negotiating the best peace possible would instead let our sanctions leverage wither," the minority staff said. "Without follow-up actions, evaders are brazenly profiting without any U.S. pushback, and the Kremlin knows it."

    New Treasury Designations and Response

    Washington did announce fresh Russia and cyber-related sanctions on Tuesday, designating four people and three entities, including some based in Russia and the United Arab Emirates, according to the Treasury Department website.

    Treasury Not Available for Comment

    Treasury was not immediately available for comment.

    U.S. Treasury Secretary Scott Bessent, questioned during a hearing last month about the sharp drop in sanctions actions, said the designations of Rosneft and Lukoil had been sufficient, and had helped to bring Russia to the negotiating table.

    Shadow Fleet Oil Tankers

    Further sanctions, he said, would depend on talks aimed at ending the war. Bessent said he would consider new sanctions against Russia's shadow fleet of oil tankers, a step Trump has not taken since returning to office in January 2025.

    China and Hong Kong Suppliers

    Unaddressed Sanction Targets

    The report listed many possible sanction targets that the Trump administration had skipped, including more than 130 companies identified in China and Hong Kong as "advertising immediate sales of restricted computer chips to Russia."

    Central Asian Banks

    EU/UK-Designated Facilitators

    It also listed companies around the world sanctioned by the European Union, Britain and others for helping Russia's military, as well as Central Asian banks designated by the EU last year.

    Human Rights Abusers

    It said the Trump administration failed to target companies involved with Russia's shadow fleet, and refrained from sanctioning officials and individuals responsible for human rights abuses, including the deportation of Ukrainian children.

    (Reporting by Andrea Shalal)

    Key Takeaways

    • •Senate Banking Committee Democrats accuse Trump of failing to escalate Russia sanctions four years into the war.
    • •Report says EU listed nearly 900 targets in 2025 versus two for the U.S., and flags hundreds of additional possible designations.
    • •Trump unveiled one major package on Lukoil and Rosneft; further actions are tied to peace talks, per Treasury.
    • •A bipartisan bill to penalize buyers of Russian energy has broad support but is stalled amid Trump resistance.
    • •Treasury announced limited new cyber-related sanctions; Bessent says action on the shadow fleet is under consideration.

    Frequently Asked Questions about Senate Democrats blast Trump for failing to use sanctions to pressure Russia

    1What is the main topic?

    Senate Banking Committee Democrats criticize President Trump for not expanding sanctions to pressure Russia to end the war in Ukraine, arguing U.S. action lags allies and misses many potential targets.

    2What sanctions actions are highlighted?

    The article notes one major Trump package targeting Lukoil and Rosneft, limited new designations, and Treasury’s position that further measures depend on progress in peace talks.

    3What legislation is mentioned?

    A bipartisan bill to sanction buyers of Russian oil, gas, and uranium has support from most senators but has not been brought to a vote due to Trump’s resistance, according to Democrats.

    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Finance PostThomson Reuters shares rally after CoCounsel AI tool draws 1 million users
    Next Finance PostHP warns US trade regulations, memory chip costs to weigh on annual forecasts
    More from Finance

    Explore more articles in the Finance category

    Image for UK to enforce travel permit requirement on foreign visitors
    UK to enforce travel permit requirement on foreign visitors
    Image for Trading Day: A welcome dose of AI, tariff relief
    Trading Day: A welcome dose of AI, tariff relief
    Image for Thomson Reuters shares rally after CoCounsel AI tool draws 1 million users
    Thomson Reuters shares rally after CoCounsel AI tool draws 1 million users
    Image for HP warns US trade regulations, memory chip costs to weigh on annual forecasts
    HP warns US trade regulations, memory chip costs to weigh on annual forecasts
    Image for Stripe is considering acquisition of all or parts of PayPal, Bloomberg News reports
    Stripe is considering acquisition of all or parts of PayPal, Bloomberg News reports
    Image for AI chip startup SambaNova raises $350 million in Vista-led round, signs Intel partnership
    AI chip startup SambaNova raises $350 million in Vista-led round, signs Intel partnership
    Image for L'Oreal, Dyson, Bausch + Lomb become the latest to sue for Trump tariff refunds
    L'Oreal, Dyson, Bausch + Lomb become the latest to sue for Trump tariff refunds
    Image for Warner Bros opens talks with rival Paramount, weighs raised $31 per share bid
    Warner Bros opens talks with rival Paramount, weighs raised $31 per share bid
    Image for US imposes cyber-related sanctions on Russian, UAE individuals and entities
    US imposes cyber-related sanctions on Russian, UAE individuals and entities
    Image for Telecom Italia sees 5-6% rise in core profit, to launch share buyback
    Telecom Italia sees 5-6% rise in core profit, to launch share buyback
    Image for Exclusive-Russia's Transneft cuts pipeline oil intake after drone attack on key pumping station, sources say
    Exclusive-Russia's Transneft cuts pipeline oil intake after drone attack on key pumping station, sources say
    Image for AI accounting startup Basis raises $100 million at $1.15 billion valuation
    AI accounting startup Basis raises $100 million at $1.15 billion valuation
    View All Finance Posts