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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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"We should make an offer to the Americans. They want fertilizers, including nitrogen fertilizers, so please, let's build it together, using your (U.S.) ​technology," Lukashenko said in a conversation with Aleksey Russkikh, governor of Russia's Ulyanovsk Oblast, in Minsk.

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