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Ukraine Crisis

Giant tanker collision spills one million barrels of oil

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A tanker carrying around one million barrels of bitumen mix has collided with another vessel in the Chinese port city of QingDao.

Poor visibility was a key factor in the collision, which created an oil spill into the Yellow Sea.

The local maritime safety administration instructed other ships to stay at least ten nautical miles away from the impacted area…

Authorities were unable to share any details about how much oil had leaked.

Ukraine Crisis

Sean Penn visits President Zelensky in Kyiv

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Sean Penn is the latest celebrity to travel to Ukraine and meet with President Zelensky

Actor Sean Penn is reportedly creating a documentary on Russia’s invasion of Ukraine.

He is seeking to visit the war-torn areas where Russian troops have allegedly committed war crimes.

The leader thanked Penn for his support during the meeting. It comes a week after Zelensky met with Hollywood star Ben Stiller, who was visiting for humanitarian reasons.

“The whole world will soon be able to see the whole truth about the war thanks to his film. Sean, thank you for the support of our state and our people.”

UKRAINE’S PRESIDENT VOLODYMYR ZELENSKY

Meanwhile, fresh vision has emerged of a Russian missile strike on a crowded shopping mall in the country’s east.

It’s understood 18 people are dead, and dozens are still missing. Moscow says it struck a nearby arms depot and is claiming the mall was empty at the time.

The blast sent shockwaves around surrounding areas, where people can be seen running away from the areas of impact.

Meanwhile, President Zelensky is calling Russia a terrorist state. He urged his U.N. counterparts to stand up and pay their respects, as he dialled in for urgent talks.

“Who of you does not agree that this is terrorism?”

UKRAINE’S PRESIDENT VOLODYMYR ZELENSKY

Zelensky named victims of the war, including a three-month-old. He also drew on the U.N. Charter for maintaining international peace and security.

Meanwhile, Russia’s representatives expressed concern about President Zelensky’s speech. Dmitry Polyanskiy says he did not receive any consultation beforehand.

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Ukraine Crisis

Finland and Sweden one step closer to NATO membership as Turkey agrees

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Finland and Sweden are one step closer to NATO membership after Turkey officially agrees to support their nominations

Turkey has officially agreed to support Finland and Sweden’s NATO membership applications, paving the way for the two Nordic nations to join the strategic alliance. 

Lifting its veto, Turkey has now ended a weeks-long debate which has tested Western unity over Russia’s invasion of Ukraine. 

Finland’s President says the breakthrough comes after the three nations signed a joint memorandum to extend support against threats to each other’s security. 

NATO Secretary General Jens Stoltenberg says the memorandum addresses Turkey’s concerns.

FILE PHOTO: NATO Secretary General Jens Stoltenberg speaks during a news conference on the eve of a NATO summit, amid Russia’s invasion of Ukraine, in Brussels, Belgium March 23, 2022. REUTERS/Gonzalo Fuentes/File Photo

“I am pleased to announce that we now have an agreement that paves the way for Finland and Sweden to join NATO,” he told reporters at the NATO summit in Madrid.

“Turkey, Finland and Sweden have signed a memorandum that addresses Turkey’s concerns, including around arms exports and the fight against terrorism,”

NATO Secretary General Jens Stoltenberg

This all happened just hours before a NATO summit began in Madrid, with leaders hoping to display unity in the face of Russian aggression. 

Finland and Sweden’s application to join the nuclear-armed alliance is the biggest shift in European security in decades. 

Ukraine’s President Volodymyr Zelenskyy addressed the leaders of the G7 nations on Monday, pressing them for more heavy weaponry and help to end the war before winter sets in.

It comes as Russia defaults on debt for the first time in a century.

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Ukraine Crisis

Russia defaults on debt for the first time in a century

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International sanctions continue to take their toll on Russia, as the nation reportedly defaults on foreign debt for the first time in a century

The Moody’s Ratings Agency has confirmed bond holders did not receive $100 million in interest payments.

These missing payments follow a string of international sanctions on Russia for its invasion of neighbouring Ukraine.

“On 27 June, holders of Russia’s sovereign debt had not received coupon payments on two eurobonds worth $100 million by the time the 30-calendar-day grace period expired, which we consider an event of default under our definition.”

MOODY’S RATINGS AGENCY

Several businesses have pulled out of Russia, with the Michelin tyre group being the latest to withdraw. The company says it will give up business by the end of this year.

Moscow believes there are “no grounds to call this situation a default”. Officials maintain the payments did not reach creditors because of “third parties”.

The nation says it has the money to pay its debts but has blamed Western sanctions for freezing its foreign currency reserves, which are held abroad.

Russian authorities have described the situation as a “farce” and accused the West of pushing an “artificial” default.

Some financial institutions also remain confident the sanctions are not impacting operations.

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