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This week, the world watched in anticipation for Russia’s Victory Day parade after President Volodymyr Zelensky commented that he could not guarantee the safety of those attending. Meanwhile, the European Union moves one step forward to banning Russian gas from the European continent. It is also revealed this week that U.S. Secretary of Defense Pete Hegseth has fallen out of step with the White House.

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Fitch, S&P cut Ukraine's rating to selective default.

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The rating agencies downgraded Ukraine's foreign currency ratings following the country's request for a two-year freeze on payments on international bonds totaling $20 billion, a move made by the government to protect the economy from a debt default. “Given the terms and conditions of the restructuring, and in line with our criteria, we view the transaction as distressed and tantamount to default,” S&P said.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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