French tire group Michelin said Tuesday it plans to transfer its activities in Russia to local management, the latest foreign firm to exit the country following Moscow's invasion of Ukraine.

Hundreds of Western companies ranging from furniture store IKEA to fast-food chain McDonald's and sports retailer Nike have left Russia since the war erupted

Russian aviation authorities are preventing jobless pilots from finding work with foreign airlines, the Kommersant business daily reported Tuesday, citing five unnamed industry sources. 

Airlines started laying off Russian pilots in the spring after most international flights were grounded due to the risk of aircraft seizures in line with Western

Moody's ratings agency has confirmed that Russia defaulted on foreign debt for the first time in a century after bondholders did not receive $100 million in interest payments.

“Missed coupon payment constitutes a default,” Moody’s said in a statement late Monday. 

Bloomberg had earlier reported that Russia has defaulted on its foreign debt after the

Moscow opposition politician Ilya Yashin has been sentenced to jail a month after being found guilty of “discrediting” the Russian military.

Independent journalist Irina Babloyan said she and Yashin were on a walk at a park in central Moscow’s Khamovniki district late Monday evening when police officers detained him and took him in an unknown d