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S&P cuts Russia's foreign currency rating to 'selective default.'

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The rating agency said on April 9 that Russia was unlikely to honor its obligations to foreign bondholders. Earlier in April Russia made Eurobond payments in rubles instead of dollars, and S&P believes bondholders are unlikely to convert them into dollars.

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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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As Ukraine negotiates a peace agreement with the U.S., soldiers on the ground face a different reality: holding the line with shrinking infantry numbers and almost no rotation. For nearly six months, two Ukrainian soldiers, Oleksandr Tishaiev and Oleksandr Aliksieienko, were trapped in the same battered position on the Zaporizhzhia front, unable to rotate as Russian drones monitored every path in and out.

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