World leaders paid tribute to former Soviet President Mikhail Gorbachev who died in Moscow on Tuesday at the age of 91.
He had been suffering from a long and serious illness, reports quoting hospital staff said.
Gorbachev was the last leader of the Soviet Union, from which modern Russia emerged, and is best known for opening up the USSR to the world with sweeping reforms known as Glasnost and Perestroika.
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.