Oil Extends Gains on Weaker Dollar, Geopolitical Uncertainty
Oil rose for a second day as a weakening dollar boosted the appeal of commodities priced in the currency and geopolitical ructions limited the chance of more supply from Russia and Iran.
West Texas Intermediate traded near $63 a barrel after jumping 2.9% on Monday, while Brent closed above $64. A gauge of the dollar was near its lowest since 2023, with Wall Street banks reinforcing their calls that the greenback will decline further.
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Miami Herald
43 minutes ago
- Miami Herald
Ukraine delegation visits Washington as Senate mulls Russia sanctions
June 4 (UPI) -- Ukrainian officials were set to update U.S. senators on Wednesday on the war and discuss arms purchases and efforts to pressure Russia to negotiate a peace deal, including a tough new bipartisan sanctions bill due to come to the floor of the upper chamber next week. The delegation, which included Deputy Prime Minister and Economy Minister Yuliia Svyrydenko, Deputy Defense Minister Serhii Boyev and Presidential Office head Andriy Yermak, arrived Tuesday, a day after a second round of Ukraine-Russia peace talks in Turkey broke up without a breakthrough. Yermak said in a social media post that the delegation was bringing a "comprehensive agenda" of issues that were important to Ukraine to actively promote to members of both parties and President Donald Trump's team. "We plan to talk about defense support and the situation on the battlefield, strengthening sanctions against Russia, including Senator [Lindsey] Graham's bill. We will also discuss the Agreement on the Establishment of the Reconstruction Investment Fund, which we signed earlier," wrote Yermak. He said the delegation would also raise the issue of getting back Ukrainian children deported by Russia and support for the process. The bill that Sen. Graham, R-S.C., plans to introduce in the Senate aims to ratchet up economic pressure on Russia, targeting its trade partners by slapping 500% tariffs on imports from countries that continue to purchase Russian products, including gas, oil and uranium. China and India are the two biggest markets for Russian energy exports. Sen. Richard Blumenthal, D-Conn., told Politico that he and Graham would host a closed-door meeting with the Ukrainians on Capitol Hill to which all Senators had been invited. He said support for the sanctions bill was gaining very strong momentum with 82 members of the Senate split down the middle of the aisle agreeing to co-sponsor it. Blumenthal said the secondary sanctions could be a "game changer." "It's a pivotal moment in Ukraine -- and crunch time for the Senate on this bill." He also pushed back on what he said was a growing but false belief that Ukraine was losing the war, saying recent offensive assaults deep into Russian territory, such as Sunday's so-called "Operation Spiderweb," in which Ukrainian drones destroyed 41 strategic Russian bomber aircraft, proved otherwise. Blumenthal argued that such feats could help shift the dial among the administration's foreign policy team, helping persuade them to bolster military and other assistance for Ukraine and to support the sanctions bill. That in turn would help overcome the reservations of some lawmakers, he said. "Events will move the White House -- and maybe some of the president's friends here [Capitol Hill]. Congress can move ahead. [Trump] doesn't have to support it." Current U.S. flows of arms and equipment to Ukraine are all under drawdowns on assistance packages approved under former President Joe Biden, with no fresh approvals since as the Trump administration shifts to a more mercantile approach under which Ukraine will buy the weapons rather than receiving them as aid. Copyright 2025 UPI News Corporation. All Rights Reserved.
Hamilton Spectator
an hour ago
- Hamilton Spectator
Zelenskyy calls Russia's peace proposal an ‘ultimatum' and he wants face-to-face talks with Putin
KYIV, Ukraine (AP) — Ukrainian President Volodymyr Zelenskyy on Wednesday dismissed Russia's ceasefire proposal as 'an ultimatum' and renewed his call for direct talks with Russian President Vladimir Putin to break the deadlock over the war, which has dragged on for nearly 3 1/2 years. Both sides exchanged memorandums setting out their conditions for a ceasefire for discussion at Monday's direct peace talks between delegations in Istanbul, their second meeting in just over two weeks. Both sides have established red lines that make any quick deal unlikely. Zelenskyy said that the second round of talks in Istanbul was no different from the first meeting on May 16. Zelenskyy described the latest negotiations in Istanbul as 'a political performance' and 'artificial diplomacy' designed to stall for time, delay sanctions and convince the United States that Russia is engaged in dialogue. 'The same ultimatums they voiced back then — now they just put them on paper ... Honestly, this document looks like spam. It's spam meant to flood us and create the impression that they're doing something,' Zelenskyy said in his first reaction to the Russian document. He added that the 2025 talks in Istanbul carry 'the same content and spirit' as the fruitless negotiations held in the Turkish city in the early days of the war. The Ukrainian leader said that he sees little value in continuing talks at the current level of delegations. Defense Minister Rustem Umerov led the Ukrainian delegation in Istanbul, while Vladimir Medinsky, an aide to Putin, headed the Russian team. Zelenskyy said he wants a ceasefire with Russia before a possible summit meeting with Putin, possibly also including U.S. President Donald Trump, in an effort to remove obstacles to a peace settlement. The U.S. has led a recent diplomatic push to stop the full-scale invasion, which began on Feb. 24, 2022. 'We are proposing … a ceasefire before a leaders' summit,' with the U.S. acting as a mediator, Zelenskyy told a media briefing in Kyiv. 'Why a ceasefire before the leaders' meeting? Because if we meet and there is no mutual understanding, no willingness or vision on how to end this, then the ceasefire would end that same day. But if we see readiness to continue the dialogue and take real steps toward de-escalation, then the ceasefire would be extended with U.S. mediation guarantees,' he said. Ukraine is ready to meet at any time from next Monday at a venue such as Istanbul, the Vatican or Switzerland, Zelenskyy said. A second round of peace talks on Monday between Russian and Ukrainian delegations in Istanbul lasted just over an hour and made no progress on ending the war. They agreed only to swap thousands of their dead and seriously wounded troops. Also, a new prisoner exchange with Russia could take place over the weekend, Zelenskyy said. ___ Follow AP's coverage of the war in Ukraine at Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
an hour ago
- Yahoo
Massive Russia sanctions package stalls as Trump pushes for Ukraine peace talks
Senators are growing antsy to move ahead with a massive sanctions package against Russia, and the only thing standing in the way is President Donald Trump. In the midst of the extremely partisan budget reconciliation process, nearly the entire upper chamber has coalesced behind the sanctions package from Sens. Lindsey Graham, R-S.C. and Richard Blumenthal, D-Conn., which would slap up to 500% "bone-breaking" tariffs on countries buying energy products from Moscow. Ukraine-russia Peace Talks Yield No Ceasefire, Zelenskyy Warns Putin Should Not Be 'Rewarded' The measure is designed to place Russia's war machine into a chokehold by imposing duties on oil, gas, uranium and other exports largely purchased by China and India, which account for nearly three-quarters of Moscow's energy business. Trump has pushed for peace talks between Ukraine and Russia, which have so far not yielded an end to the three-year conflict, and has begun to sour on Russian President Vladimir Putin's reluctance to find a peaceful end to the ongoing conflict. He recently questioned "what the hell happened" to the Russian leader. The latest round of negotiations in Istanbul, Turkey, ended without a ceasefire, and Putin's recent demands for large chunks of territory in exchange for peace have been nonstarters for Ukrainian President Volodymyr Zelenskyy. Read On The Fox News App A successful surprise drone attack by Ukraine and fears of a retaliatory strike by Russia have lawmakers growing increasingly anxious to sanction Russia into oblivion, but the president has yet to give Graham — a top ally of Trump's — and Blumenthal's bill his blessing. "If President Trump asked me my opinion, I would tell them, 'let's go now,'" Sen. John Kennedy, R-L.a., one of the 82 co-sponsors of the bill, told Fox News Digital. Us Readies Russia Sanctions Over Ukraine, Unclear If Trump Will Sign, Sources Say And Graham, who traveled to Ukraine with Blumenthal to meet with Zelenskyy during the Senate's Memorial Day recess, wants to see his sanctions levied against Russia by as early as next week when world powers gather in Italy for the upcoming G7 Summit to "deliver an unequivocal message to China." "The theme of this engagement was that we appreciate President Trump's earnest efforts to bring about peace and entice Putin to come to the table," Graham said in a statement after meeting with French President Emmanuel Macron. "It is our view Putin is not responding in kind, he is not interested in peace and that he plans to continue to dismember Ukraine." Blumenthal believed that Trump "has been played" by Putin and accused the Russian leader of being "totally unserious" about the negotiations with Ukraine. The lawmaker confirmed to Fox News Digital that he and Graham would hold a briefing for all 100 Senators on the current state of affairs in Ukraine on Wednesday. He said there was "no question" that Trump's input would be significant for the bill's fate, but noted that even House Speaker Mike Johnson, R-L.a., came out in support of levying strict sanctions on Russia, which suggested a bicameral desire to inflict monetary pain on Moscow and its allies. "We have 82 senators, evenly divided, bipartisan, which I think speaks volumes," Blumenthal said. "If it's given a vote, it will pass, and obviously President Trump's views will matter as to whether it's given a vote." Trump Warns Putin Is 'Playing With Fire' After Declaring The Russian President Has 'Gone Absolutely Crazy' Still, Senate Republican leadership is waiting for a green-light from the White House before making any decisions to put the bill on the floor. Senate Majority Leader John Thune, R-S.D., countered on the Brian Kilmeade Show on Fox Radio that his team and the White House were working together to make sure that the sanctions package "from a technical standpoint" hit the mark of what the president wanted to do. "We're trying to give [President Trump] as much space and room as necessary for him to try and negotiate the best possible outcome and get a peaceful solution in Ukraine," Thune said. "And if the sanctions contribute to that, then yeah, we're available and ready to move." Meanwhile, lawmakers don't see the sanctions package as undermining any ongoing efforts from the White House to broker a peace deal. Sen. Thom Tillis, R-S.C., believed that the legislation would instead act as a "real enabler" for the Trump administration. And Sen. Tim Kaine, D-Va, similarly believed that the sanctions bill could give Trump a "stronger hand" in negotiations. "These are sanctions that would be very punishing to the Russian economy," he told Fox News Digital. "And we think the president can say, 'Look, this is going to be very serious, but it can be avoided if we reach an accord right now that's a cease fire.'"Original article source: Massive Russia sanctions package stalls as Trump pushes for Ukraine peace talks
