- Six former Treasury secretaries urged Congress in a letter to take quick action to raise or suspend the U.S. debt ceiling or else risk “serious economic and national security harm.”
- The six warned House Speaker Nancy Pelosi that even flirting with a first ever U.S. default could spook markets and raise concerns about the country’s credit.
- The letter was signed by former Treasury Secretaries Henry Paulson, Timothy Geithner, Larry Summers, Jack Lew, Robert Rubin and Michael Blumenthal.
- Steven Mnuchin, who served as Treasury secretary under former President Donald Trump, did not sign the letter. Source CNBC
OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. On Monday, Kuwait said the cartel should stick with its plan to increase output gradually because oil markets were well-balanced. That followed similar statements from other key members in recent days, including Iraq, Algeria, Angola and Nigeria. Source Al Jazeera
“If a state buys (weaponry) from us, it’s no longer a Turkish product. It might be manufactured in Turkey, but it belongs to Ukraine,” Cavusoglu told reporters after meeting his Russian counterpart, Sergei Lavrov, on the margins of the G20 summit in Rome. “Turkey cannot be blamed for this,” he said. Source The Defence Post
Bulgaria has sent 350 additional military personnel to its border with Turkey amid rising migration levels. Defense Minister Georgi Panayotov told Bulgarian media that the troops were arriving to “support the border police”. Source EuroNews
