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.
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.
Airline resumes flights to Russia, despite war
Wizz Abu Dhabi will resume flights to Russia from October 3, despite global warnings
Wizz Abu Dhabi has confirmed it will resumes its flights to Russia from October 3, despite the war in Ukraine.
The budget airline says ‘passenger demand’ is the main reason behind putting Russia back on their destination list.
As the war in Ukraine moves into its sixth month, countries around the world continue to condemn Russia’s atrocities.
Immediately following Russia’s invasion of Ukraine, international businesses boycotted the country and world leaders economically isolated them from the global stage.
Most sanctions against Russia are still in place and will remain that way until Russia ceases its war in Ukraine.
Zelensky’s hometown in Russian crosshairs
Ukraine said on Wednesday that Russia might be building a strike force to target Ukrainian President Volodomyr Zelenskyy’s hometown
Ukraine has warned that Moscow could be preparing new offensive operations in southern Ukraine.
Russia occupies broad stretches of Ukrainian territory in the south of the country,
Much of which Russia captured early on in the war after it launched its February 24 invasion.
Ukraine has also said that Russia has begun to assemble a military strike force – and may be aiming for Kryvyi Rih – the hometown of the Ukrainian president.
“It’s also quite likely that the enemy is preparing a hostile counter-offensive with the subsequent plan of getting to the administrative boundary of Kherson region”Ukraine southern military command
However, Ukraine has also said it was to mount a counter-offensive to regions of Ukraine that Russia currently holds.
Kryvyi Rih is a steel-producing town around 50km (30 miles) from the southern frontline of the war.
Grain vessel allowed to leave Ukraine waters
A cargo vessel carrying grain for export has been permitted to leave Ukrainian waters via the Black Sea in a rare Russia-Ukraine agreement
The vessel, named “Razoni” under a Sierra-Leone registration left the port of Odesa bound for Lebanon, carrying 26,000 tonnes of grain on board.
It’s the first cargo vessel that’s been permitted to carry cargo on the Black Sea following an export agreement between Ukraine and Russia that was brokered by Turkey and the United Nations.
Russia and Ukraine account for a third of the world’s global wheat supply between them.
But Russian blockades of Ukraine’s Black Sea coast as well as the ongoing war have meant exports have plummeted – leading many nations to worry over interrupted food supplies.
Crew aboard the vessel spoke of their concerns about sea mines.
Abdullah jendi, junior engineer aboard razoni
“To be honest, I am scared from the fact that there are naval mines. This is the only thing that I fear during this trip, as for the other things, we are used to them as sailors.”
But they also spoke of their joy at being allowed to sail through.
Junior engineer Abdullah Jendi said it was a great feeling.
“Everyone on the ship was very happy,” he said. “I can say that it was the best feeling we have had in 2022.”
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