International cooperation

Ukrainian flag

Spain to give Ukraine €1 billion in military aid in decade-long defense deal

| By | -, Change Milestones

Although the precise details of the agreement have not been made public, the Spanish government said its assistance would “allow Ukraine to prioritize its capacities, including its air defenses.” The bilateral deal was agreed two days after Russia’s onslaught in the north-eastern Ukrainian city of Kharkiv killed 18 people, and as E.U. leaders grow increasingly exasperated with Hungary’s efforts to block aid to Ukraine.

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Aerial view of oil tanker

India stops accepting Russian oil delivered by U.S.-sanctioned tankers

| By | -, Change Milestones

Indian oil refineries have stopped accepting Russian crude oil delivered by tankers operated by Russia’s largest commercial shipping company that has been sanctioned by the U.S., likely as a result of the war on Ukraine. The move deals a significant blow to Russia’s economy as India has emerged as a major importer of Russian crude oil over the past two years.

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A Somali flag

Somalia secures $4.5 billion debt relief deal with international creditors

| By | -, Change Milestones

The deal comes as part of a debt forgiveness program —called the Heavily Indebted Poor Countries initiative— overseen by the IMF and the World Bank. As a result of its participation in the program, Somalia’s external debt will fall from 64% of GDP in 2018 to less than 6% of GDP by the end of 2023.

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Atoll

Australia offers Tuvalu residents special climate emergency visas in ‘groundbreaking’ treaty

| By | -, Change Milestones

It is expected that by 2050, half the land area of Tuvalu’s capital, Funafuti, will be flooded by tidal waters daily. Under the deal, Australia has committed to provide access to education, health care and income and family support instantly to Tuvaluans upon arrival.

Australia offers Tuvalu residents special climate emergency visas in ‘groundbreaking’ treaty Read more

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