Here’s what you need to know
More than 1 million US voters have switched to the Republican Party. According to the Associated Press, many suburban swing voters are making the switch.
G7 nations launched a $600 billion global infrastructure plan. The plan aims to counter China’s Belt and Road Initiative. The summit also announced additional impending sanctions on Russia (more below).
Russia defaulted on its debt. The grace period has ended for a $100 million interest payment that was due May 27, marking Russia’s first foreign debt default in over a century.
Thousands demonstrated in Madrid ahead of the NATO summit. Protestors called for an end to the military alliance, which will consider Finland and Sweden’s bids to join in a two-day meeting starting Wednesday.
Ecuadorian president Guillermo Lasso cut gas prices. The announcement came amid two weeks of indigenous protests in Quito demanding price controls.
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