Russia on Sunday defaulted on its foreign debt for the first time since 1918 after the grace period on its $100 million payment expired, according to reports.

The $100 million interest payment deadline due to be met by the Kremlin had initially been set to May 27 but a 30-day grace period was triggered after investors failed to receive coupon payments due on both dollar and euro-denominated bonds.

British Prime Minister Boris Johnson said on Saturday that he feared Ukraine could face pressure to agree a peace deal with Russia that was not in its interests, due to the economic consequences of the war in Europe.

"Too many countries are saying this is a European war that is unnecessary ... and so the pressure will grow to encourage - coerce, maybe - the Ukrainians to a bad peace," he told broadcasters in the Rwandan capital Kigali, where he is attending a Commonwealth summit.

Earlier, sources told Western media that the United States was planning to deliver medium- and long-range anti-air missile systems to Kiev. Moscow has repeatedly warned of the dangers of the billions of dollars-worth of Western military equipment flowing to Ukraine ending up on the international arms black market.

Washington has not informed Moscow on any plans to deliver long-range anti-air missile systems to Ukraine, Kremlin spokesman Dmitry Peskov has said.

CIA personnel and commandos from the UK, France, Canada and Lithuania have been operating in Ukraine since the outset of the Russian special operation despite the US and NATO denying deploying their forces there, according to the New York Times. Are the West's covert efforts worth the pain as Ukrainian troops are increasingly outgunned?

Earlier, Bloomberg reported that Russia had technically defaulted on its foreign currency obligations for the first time since 1918, when the fledgling Bolshevik government repudiated all the sovereign debt and other financial obligations accrued by its predecessors.

Russia's Finance Ministry has dismissed Bloomberg's reporting on the country's "defaulting" on its foreign obligations, assuring that payments have been made in full and in accordance with the terms under which the eurobonds were issued.

US President Joe Biden will announce an increase in tariffs on 570 groups of Russian goods worth $2.3 billion, the White House said on Monday.

According to Washington, over a few months, US exports to Russia have decreased approximately by 97%, while Russia’s imports of goods from across the world could fall by 40%.

Ukraine is a total mess.  A mess of epic proportions.

And sponsored by the “Free World,” which, in 2022, hardly resembles anything having to do with freedom or any semblance of western tradition.

Let’s absorb the headlines of the past week alone.

Ukraine has banned the main opposition party in the country and seized its assets, while claiming that it is a Russian-influenced entity.

Jens Stoltenberg, Washington’s NATO puppet, says “peace negotiations,” not Russian victory, will end the conflict in Ukraine. So, Stoltenberg is counting on the Kremlin, whose leaders have said they will never again trust the West, to sit down again with the West and again agree to another worthless agreement. Considering the difficulty the Kremlin has in accepting reality, I suppose it is possible.

On the night of February 24, when Russian forces crossed the western and northern borders of Ukraine, the world’s attention was riveted on the fate of Kiev. Hardly anyone paid attention to the far south in the Black Sea, some 140 kms from Odessa, when Russian Navy attacked that night and captured the entire Ukrainian garrison on Snake Island, an obscure small clump of rock with little obvious value, just 46 acres of rock and grass. 

Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors.