A history of Russian defaults

LONDON, United Kingdom – In 1918, Soviet revolutionary Leon Trotsky told Western creditors aghast at the Bolsheviks’ repudiation of Russia’s external debt: “Gentlemen, you were warned.” He reminded them that dismissal of Tsarist-era debt had been a key manifesto of the failed uprising in 1905. More than a century later, Russia stands on the brink … Read more

How a Russian billionaire shielded assets from European sanctions

Russian businessman Andrey Melnichenko ceded ownership of two of the world’s largest coal and fertilizers companies to his wife the day before he was sanctioned by the European Union, according to three people familiar with the matter. Melnichenko, who built his fortune in the years following the 1991 fall of the Soviet Union, gave up … Read more

Russian forces face stiff resistance in Ukraine’s Donbas

A Moscow backed separatist leader was reported by state-run TASS news agency on Tuesday, May 31, as saying that Russian forces had not advanced as rapidly as they had hoped in the battle for Sievierodonetsk, the easternmost city still in Ukraine’s hands. As the Russian offensive continued across Ukraine’s eastern Donbas region, the European Union … Read more

Russian troops enter outskirts of key city in Ukraine’s Donbas

Incessant shelling leaves Ukrainian forces defending ruins in Sievierodonetsk, but their refusal to withdraw slows a massive Russian offensive across the Donbas region in eastern Ukraine Russian troops entered the outskirts of the Ukrainian city of Sievierodonetsk, a regional governor said on Monday, May 30, describing the fighting as “very fierce” in a city that … Read more

Ukraine says Russian advances could force retreat in part of east

Ukrainian forces may have to retreat from their last pocket in the Luhansk region to avoid being captured, a Ukrainian official said, as Russian troops press an advance in the east that has shifted the momentum of the three-month-old war. A withdrawal could bring Russian President Vladimir Putin closer to his goal of capturing eastern … Read more

Russian forces edge closer to encircling Ukraine troops in east

Advancing Russian forces came closer to surrounding Ukrainian troops in the east, briefly seizing positions on the last highway out of a crucial pair of Ukrainian-held cities before being beaten back, a Ukrainian official said on Thursday, May 26. Three months into its invasion of Ukraine, Russia has abandoned its assault on the capital Kyiv … Read more

Russian central bank slashes key rate, sees room to cut further

The Bank of Russia says external conditions for the Russian economy are still challenging but financial stability risks have decreased somewhat Russia’s central bank slashed its key interest rate to 11% on Thursday, May 26, and said it saw room for more cuts this year, as inflation slows from more than 20-year highs and the … Read more

Russian hackers are linked to new Brexit leak website, Google says

A new website that published leaked emails from several leading proponents of Britain’s exit from the European Union is tied to Russian hackers, according to a Google cybersecurity official and the former head of UK foreign intelligence. The website – titled “Very English Coop d’Etat” – says it has published private emails from former British … Read more

Russian and Chinese jets conduct patrol in East Asia, capping Biden trip

Japan’s defense minister sees the incident as a likely provocation by both Beijing and Moscow on a day when US President Joe Biden, Indian Prime Minister Narendra Mo, and Australia’s newly elected leader, Anthony Albanese, are meeting in Tokyo Russian and Chinese military planes conducted joint exercises to patrol the Asia-Pacific region, Russia’s defense ministry … Read more