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On Tuesday, Russian President Vladimir Putin said that the weeklong cease-fire declared by the Ukrainian president should be extended. They are also recommending talks between the government and the rebels.
Despite assurances from pro-Russian rebels on Monday, a military helicopter was shot down in Slovyansk. It made the ground for negotiating for peace a bit tenuous. Putin said that there is a great need to respect the cease fire. He also asked parliament to cancel a resolution sanctioning the use of military force in the Ukraine.
Ukrainian President Petro Poroshenko called it a "first practical step" to moving towards Poroshenko's peace plan for eastern Ukraine, according to Reuters.
Officials are hoping that the action will have an immediate effect. The Kremlin’s website also said that Putin asked the parliament to cancel his March 1 request for the use of force on the Ukrainian territory, according to the Associated Press.
Russian markets have been unsteady due to the crisis in Ukraine. The U.S. and European Union have imposed sanctions against Russian officials and businessmen.