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Russia is in a foreign debt default for first time in a century

Photo: Reuters

For the first time since 1918, Russia has defaulted on its sovereign debt in foreign currency, Bloomberg reported. This was due to international sanctions against Moscow following the Russian aggression in Ukraine and the inability of Russian banks to cover a maturity of $ 100 million in bond coupons.

On the first day of the G7 summit in Bavaria, the leaders of the most industrialized Western countries pledged to provide unlimited support to Ukraine for its defense against the Russian invasion, Bloomberg reported, citing a draft declaration from the forum.

Due to the Russian missile strikes, the United States plans to announce the purchase of NASAMS medium to long range surface-to-air anti-aircraft missile systems for Ukraine this week, CNN reported.

Germany will prepare and send an additional military contingent to defend Lithuania if Russia tries to invade the Baltic state because of the blockade of Kaliningrad, REUTERS reported. At the NATO summit in Madrid on June 28-30, the pact leaders will announce new aid to Ukraine and the Baltic states, the agency said.

The Spanish newspaper El Pais writes that the leaders of the Alliance can decide on the largest military deployment of the organization after the Cold War, doubling NATO forces on the eastern flank.

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