IBOV 176,402.10 ▲ 1.77% IPSA 10,954.04 ▲ 0.52% IPC MEX 66,709.60 ▲ 0.88% MERVAL 3,281,979 — 0.00% COLCAP 2,301.34 ▲ 0.13% BVL PERÚ 57,575.02 — — USD/BRL5.06▼ 0.29% USD/MXN17.39▼ 0.11% USD/CLP934.60▼ 0.12% USD/COP3,203▼ 1.62% USD/PEN3.40▲ 0.08% USD/ARS1,478▲ 0.02% USD/UYU40.14▲ 1.07% USD/PYG6,035▲ 1.50% USD/BOB10.95▲ 3.79% USD/DOP58.34▲ 0.24% USD/CRC447.42▲ 1.35% USD/GTQ7.62▲ 2.27% USD/HNL26.74▲ 1.52% USD/NIO36.62▲ 0.72% USD/VES735.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 0.36% USD/TTD6.71▲ 0.76% EUR/BRL5.77▼ 0.83% BRENT 94.19 ▲ 3.49% WTI 87.12 ▲ 2.60% IRON ORE 161.91 — — COPPER 6.51 ▲ 0.02% GOLD 4,161 ▲ 2.21% SILVER 60.99 ▲ 3.65% SOY 1,236 ▲ 1.31% CORN 483.75 ▲ 6.85% WHEAT 700.50 ▲ 3.32% COFFEE 317.65 ▼ 4.31% SUGAR 14.80 ▼ 0.54% ORANGE JUICE 146.80 ▲ 2.09% COTTON 80.43 ▲ 1.86% COCOA 5,412 ▼ 3.48% BEEF 219.68 ▼ 3.09% CATTLE 337.43 ▼ 3.47% LITHIUM 69.34 ▲ 0.38% PETR4 42.62 ▲ 2.30% VALE3 74.32 ▲ 2.88% ITUB4 42.82 ▲ 0.68% BBDC4 18.66 ▲ 0.59% ABEV3 16.05 ▲ 1.58% BBAS3 20.78 ▼ 0.48% B3SA3 15.57 ▲ 2.64% WEGE3 46.30 ▲ 9.02% PRIO3 59.53 ▲ 2.32% SUZB3 42.46 ▲ 1.99% RENT3 37.00 ▲ 1.23% AZZA3 17.57 ▲ 0.51% CSAN3 3.90 ▲ 3.17% RAIZ4 0.28 ▲ 3.70% PCAR3 2.72 ▼ 0.37% GMAT3 3.86 ▲ 0.78% PSSA3 54.45 ▲ 1.81% CVCB3 1.22 ▲ 8.93% POSI3 3.71 ▲ 0.82% SLCE3 13.85 ▲ 0.73% NATU3 8.76 ▲ 0.57% BRKM5 6.04 ▲ 5.78% RANI3 7.98 ▲ 1.14% CSNA3 5.26 ▲ 3.95% CMIN3 5.85 ▲ 4.84% USIM5 8.58 ▲ 1.42% GGBR4 23.81 ▲ 1.36% ENEV3 25.67 ▲ 0.98% CPFE3 46.64 ▲ 0.52% CMIG4 11.14 ▲ 1.09% EQTL3 38.97 ▲ 0.36% LREN3 13.55 ▲ 2.11% VIVT3 35.96 ▲ 0.45% RAIL3 13.60 ▲ 2.72% KLABIN 17.89 ▲ 1.71% RAIA DROGASIL 18.21 ▲ 0.44% RDOR3 34.24 ▲ 0.94% HAPV3 11.53 ▲ 2.58% FLRY3 16.70 ▲ 0.91% SMTO3 15.94 ▲ 2.31% UGPA3 32.39 ▲ 1.79% VBBR3 34.42 ▲ 1.38% BBSE3 41.93 ▲ 0.91% BPAC11 56.16 ▲ 1.43% CURY3 30.22 ▲ 0.90% AERI3 2.06 ▲ 0.98% VIVARA 21.33 ▼ 0.37% COMPASS 24.71 ▲ 1.10% VAMOS 3.18 ▲ 2.91% SANB11 26.83 ▼ 1.40% ASAI3 8.42 ▲ 2.06% SBSP3 28.96 ▲ 1.26% WALMEX 49.37 ▲ 0.45% GMEXICO 213.45 ▲ 2.14% FEMSA 230.15 ▲ 1.50% CEMEX 22.36 ▲ 1.31% GFNORTE 190.10 ▲ 2.31% BIMBO 60.30 ▲ 1.53% TELEVISA 9.88 ▲ 1.23% AMX 22.69 ▼ 0.31% GAP 382.19 ▲ 0.97% ASUR 272.82 ▼ 0.78% OMA 232.52 ▲ 2.77% KOF 184.13 ▲ 2.03% GRUMA 282.73 ▲ 0.05% KIMBER 39.20 ▲ 2.08% SQM-B 66,032 ▲ 2.31% COPEC 6,355 ▼ 1.47% BSANTANDER 79.47 ▲ 0.58% FALABELLA 5,910 ▼ 0.15% ENELAM 84.13 ▼ 0.47% CENCOSUD 2,027 ▼ 0.04% CMPC 1,065 ▼ 1.74% BANCO CHILE 189.99 ▼ 0.01% LATAM AIR 23.99 ▼ 0.87% YPF 82,425 ▲ 2.23% GGAL 8,250 ▲ 3.58% PAMPA 5,530 ▲ 1.00% TXAR 678.00 ▼ 0.15% ALUAR 950.00 ▼ 2.36% TGS 9,855 ▲ 1.49% CEPU 2,359 ▲ 0.81% MIRGOR 16,925 ▲ 0.89% COME 43.00 ▲ 0.30% LOMA NEGRA 3,660 ▲ 1.53% BYMA 296.25 ▲ 1.37% TELECOM ARG 4,330 ▲ 1.76% ECOPETROL 16.95 ▲ 2.51% BANCOLOMBIA 84.12 ▲ 0.57% GRUPO AVAL 5.05 ▼ 0.79% CREDICORP 389.55 ▼ 0.40% SOUTHERN COPPER 191.44 ▲ 1.82% BUENAVENTURA 32.53 ▲ 4.10% MERCADOLIBRE 1,812 ▼ 0.61% NUBANK 14.06 ▼ 2.29% XP 17.02 ▲ 1.01% PAGSEGURO 9.51 ▼ 0.78% STONE 11.19 ▼ 0.62% GLOBANT 32.40 ▲ 0.93% TECNOGLASS 45.90 ▲ 1.66% GAP AIRPORT 219.47 ▲ 0.82% ASUR 272.82 ▼ 0.78% OMA AIRPORT 106.66 ▲ 2.33% AMX ADR 26.09 — 0.00% FEMSA ADR 132.11 ▲ 1.35% CEMEX ADR 12.86 ▲ 1.22% PETROBRAS ADR 19.03 ▲ 2.64% VALE ADR 14.68 ▲ 3.00% ITAU ADR 8.41 ▲ 0.12% SANTANDER BR 5.40 ▼ 0.18% AMBEV ADR 3.15 ▲ 1.29% CSN 1.05 ▲ 5.00% GERDAU 4.71 ▲ 1.51% LATAM ADR 51.09 ▼ 0.94% BTC 65,599 ▼ 1.36% ETH 1,927 ▼ 0.08% SOL 77.51 ▼ 0.77% XRP 1.14 ▼ 0.30% BNB 571.20 ▼ 0.42% ADA 0.17 ▲ 0.38% DOGE 0.07 ▼ 0.96% AVAX 6.54 ▼ 0.33% LINK 8.65 ▲ 0.00% DOT 0.84 ▼ 0.92% LTC 46.62 ▼ 0.42% BCH 219.99 ▼ 1.66% TRX 0.33 ▼ 0.09% XLM 0.19 ▼ 1.32% HBAR 0.07 ▲ 3.11% NEAR 1.88 ▼ 2.95% ATOM 1.46 ▼ 1.49% AAVE 97.38 ▲ 1.89% SELIC 14.25% EMBRAER 84.34 ▲ 2.04% EMBRAER ADR 66.60 ▲ 1.73% JBS 12.26 ▲ 2.55% JBS BDR 61.77 ▲ 2.57% MBRF3 15.46 ▲ 2.32% MBRFY 3.00 ▲ 1.69% INTER 5.53 ▼ 0.90% EGX 53,932 ▼ 0.11% USD/ZAR16.42▼ 0.30% USD/NGN1,370▼ 0.55% NIKKEI 66,116 ▼ 0.18% CSI300 4,717 ▼ 0.46% HSI 24,893 ▼ 0.95% NIFTY 23,996 ▼ 0.79% KOSPI 6,798 ▲ 0.74% JCI 6,334 ▼ 0.09% USD/JPY163.06▼ 0.07% USD/CNY6.76▼ 0.08% DAX 25,151 ▲ 0.56% CAC 8,444 ▲ 0.96% FTSE 10,726 ▲ 1.32% MIB 52,811 ▲ 1.01% IBEX 19,601 ▲ 1.14% STOXX 647.36 ▲ 0.65% EUR/USD1.14▲ 0.16% GBP/USD1.34▼ 0.35% SPX 7,512 ▲ 0.03% DJI 52,429 ▲ 0.39% NDX 29,108 ▼ 0.16% RUT 2,980 ▼ 0.26% TSX 35,706 ▲ 0.95% VIX 17.16 ▲ 0.65% USD/CAD1.41▼ 0.17% US10Y 4.6420 ▲ 0.30% IBOV 176,402.10 ▲ 1.77% IPSA 10,954.04 ▲ 0.52% IPC MEX 66,709.60 ▲ 0.88% MERVAL 3,281,979 — 0.00% COLCAP 2,301.34 ▲ 0.13% BVL PERÚ 57,575.02 — — USD/BRL 5.06 ▼ 0.29% USD/MXN 17.40 ▼ 0.08% USD/CLP 934.60 ▼ 0.12% USD/COP 3,203 ▼ 1.62% USD/PEN 3.40 ▲ 0.08% USD/ARS 1,478 ▲ 0.02% USD/UYU 40.14 ▲ 1.07% USD/PYG 6,035 ▲ 1.50% USD/BOB 10.95 ▲ 3.79% USD/DOP 58.34 ▲ 0.24% USD/CRC 447.42 ▲ 1.35% USD/GTQ 7.62 ▲ 2.27% USD/HNL 26.74 ▲ 1.52% USD/NIO 36.62 ▲ 0.72% USD/VES 735.39 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.49 ▲ 0.35% USD/TTD 6.71 ▲ 0.76% EUR/BRL 5.77 ▼ 0.83% BRENT 94.19 ▲ 3.49% WTI 87.12 ▲ 2.60% IRON ORE 161.91 — — COPPER 6.51 ▲ 0.02% GOLD 4,161 ▲ 2.21% SILVER 60.99 ▲ 3.65% SOY 1,236 ▲ 1.31% CORN 483.75 ▲ 6.85% WHEAT 700.50 ▲ 3.32% COFFEE 317.65 ▼ 4.31% SUGAR 14.80 ▼ 0.54% ORANGE JUICE 146.80 ▲ 2.09% COTTON 80.43 ▲ 1.86% COCOA 5,412 ▼ 3.48% BEEF 219.68 ▼ 3.09% CATTLE 337.43 ▼ 3.47% LITHIUM 69.34 ▲ 0.38% PETR4 42.62 ▲ 2.30% VALE3 74.32 ▲ 2.88% ITUB4 42.82 ▲ 0.68% BBDC4 18.66 ▲ 0.59% ABEV3 16.05 ▲ 1.58% BBAS3 20.78 ▼ 0.48% B3SA3 15.57 ▲ 2.64% WEGE3 46.30 ▲ 9.02% PRIO3 59.53 ▲ 2.32% SUZB3 42.46 ▲ 1.99% RENT3 37.00 ▲ 1.23% AZZA3 17.57 ▲ 0.51% CSAN3 3.90 ▲ 3.17% RAIZ4 0.28 ▲ 3.70% PCAR3 2.72 ▼ 0.37% GMAT3 3.86 ▲ 0.78% PSSA3 54.45 ▲ 1.81% CVCB3 1.22 ▲ 8.93% POSI3 3.71 ▲ 0.82% SLCE3 13.85 ▲ 0.73% NATU3 8.76 ▲ 0.57% BRKM5 6.04 ▲ 5.78% RANI3 7.98 ▲ 1.14% CSNA3 5.26 ▲ 3.95% CMIN3 5.85 ▲ 4.84% USIM5 8.58 ▲ 1.42% GGBR4 23.81 ▲ 1.36% ENEV3 25.67 ▲ 0.98% CPFE3 46.64 ▲ 0.52% CMIG4 11.14 ▲ 1.09% EQTL3 38.97 ▲ 0.36% LREN3 13.55 ▲ 2.11% VIVT3 35.96 ▲ 0.45% RAIL3 13.60 ▲ 2.72% KLABIN 17.89 ▲ 1.71% RAIA DROGASIL 18.21 ▲ 0.44% RDOR3 34.24 ▲ 0.94% HAPV3 11.53 ▲ 2.58% FLRY3 16.70 ▲ 0.91% SMTO3 15.94 ▲ 2.31% UGPA3 32.39 ▲ 1.79% VBBR3 34.42 ▲ 1.38% BBSE3 41.93 ▲ 0.91% BPAC11 56.16 ▲ 1.43% CURY3 30.22 ▲ 0.90% AERI3 2.06 ▲ 0.98% VIVARA 21.33 ▼ 0.37% COMPASS 24.71 ▲ 1.10% VAMOS 3.18 ▲ 2.91% SANB11 26.83 ▼ 1.40% ASAI3 8.42 ▲ 2.06% SBSP3 28.96 ▲ 1.26% WALMEX 49.37 ▲ 0.45% GMEXICO 213.45 ▲ 2.14% FEMSA 230.15 ▲ 1.50% CEMEX 22.36 ▲ 1.31% GFNORTE 190.10 ▲ 2.31% BIMBO 60.30 ▲ 1.53% TELEVISA 9.88 ▲ 1.23% AMX 22.69 ▼ 0.31% GAP 382.19 ▲ 0.97% ASUR 272.82 ▼ 0.78% OMA 232.52 ▲ 2.77% KOF 184.13 ▲ 2.03% GRUMA 282.73 ▲ 0.05% KIMBER 39.20 ▲ 2.08% SQM-B 66,032 ▲ 2.31% COPEC 6,355 ▼ 1.47% BSANTANDER 79.47 ▲ 0.58% FALABELLA 5,910 ▼ 0.15% ENELAM 84.13 ▼ 0.47% CENCOSUD 2,027 ▼ 0.04% CMPC 1,065 ▼ 1.74% BANCO CHILE 189.99 ▼ 0.01% LATAM AIR 23.99 ▼ 0.87% YPF 82,425 ▲ 2.23% GGAL 8,250 ▲ 3.58% PAMPA 5,530 ▲ 1.00% TXAR 678.00 ▼ 0.15% ALUAR 950.00 ▼ 2.36% TGS 9,855 ▲ 1.49% CEPU 2,359 ▲ 0.81% MIRGOR 16,925 ▲ 0.89% COME 43.00 ▲ 0.30% LOMA NEGRA 3,660 ▲ 1.53% BYMA 296.25 ▲ 1.37% TELECOM ARG 4,330 ▲ 1.76% ECOPETROL 16.95 ▲ 2.51% BANCOLOMBIA 84.12 ▲ 0.57% GRUPO AVAL 5.05 ▼ 0.79% CREDICORP 389.55 ▼ 0.40% SOUTHERN COPPER 191.44 ▲ 1.82% BUENAVENTURA 32.53 ▲ 4.10% MERCADOLIBRE 1,812 ▼ 0.61% NUBANK 14.06 ▼ 2.29% XP 17.02 ▲ 1.01% PAGSEGURO 9.51 ▼ 0.78% STONE 11.19 ▼ 0.62% GLOBANT 32.40 ▲ 0.93% TECNOGLASS 45.90 ▲ 1.66% GAP AIRPORT 219.47 ▲ 0.82% ASUR 272.82 ▼ 0.78% OMA AIRPORT 106.66 ▲ 2.33% AMX ADR 26.09 — 0.00% FEMSA ADR 132.11 ▲ 1.35% CEMEX ADR 12.86 ▲ 1.22% PETROBRAS ADR 19.03 ▲ 2.64% VALE ADR 14.68 ▲ 3.00% ITAU ADR 8.41 ▲ 0.12% SANTANDER BR 5.40 ▼ 0.18% AMBEV ADR 3.15 ▲ 1.29% CSN 1.05 ▲ 5.00% GERDAU 4.71 ▲ 1.51% LATAM ADR 51.09 ▼ 0.94% BTC 65,599 ▼ 1.36% ETH 1,927 ▼ 0.08% SOL 77.51 ▼ 0.77% XRP 1.14 ▼ 0.30% BNB 571.20 ▼ 0.42% ADA 0.17 ▲ 0.38% DOGE 0.07 ▼ 0.96% AVAX 6.54 ▼ 0.33% LINK 8.65 ▲ 0.00% DOT 0.84 ▼ 0.92% LTC 46.62 ▼ 0.42% BCH 219.99 ▼ 1.66% TRX 0.33 ▼ 0.09% XLM 0.19 ▼ 1.32% HBAR 0.07 ▲ 3.11% NEAR 1.88 ▼ 2.95% ATOM 1.46 ▼ 1.49% AAVE 97.38 ▲ 1.89% SELIC 14.25% EMBRAER 84.34 ▲ 2.04% EMBRAER ADR 66.60 ▲ 1.73% JBS 12.26 ▲ 2.55% JBS BDR 61.77 ▲ 2.57% MBRF3 15.46 ▲ 2.32% MBRFY 3.00 ▲ 1.69% INTER 5.53 ▼ 0.90% EGX 53,932 ▼ 0.11% USD/ZAR 16.42 ▼ 0.23% USD/NGN 1,370 ▼ 0.45% NIKKEI 66,116 ▼ 0.18% CSI300 4,717 ▼ 0.46% HSI 24,893 ▼ 0.95% NIFTY 23,996 ▼ 0.79% KOSPI 6,798 ▲ 0.74% JCI 6,334 ▼ 0.09% USD/JPY 163.07 ▼ 0.05% USD/CNY 6.7609 ▲ 0.06% DAX 25,151 ▲ 0.56% CAC 8,444 ▲ 0.96% FTSE 10,726 ▲ 1.32% MIB 52,811 ▲ 1.01% IBEX 19,601 ▲ 1.14% STOXX 647.36 ▲ 0.65% EUR/USD 1.1417 ▲ 0.11% GBP/USD 1.3386 ▲ 0.05% SPX 7,512 ▲ 0.03% DJI 52,429 ▲ 0.39% NDX 29,108 ▼ 0.16% RUT 2,980 ▼ 0.26% TSX 35,706 ▲ 0.95% VIX 17.16 ▲ 0.65% USD/CAD 1.4090 ▼ 0.11% US10Y 4.6420 ▲ 0.30%
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Wednesday, July 22, 2026

How NATO forgot about its promise not to expand to Eastern Europe and what did it lead to

By · March 13, 2022 · 1 min read

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RIO DE JANEIRO, BRAZIL – President George H.W. Bush had assured Gorbachev during the Malta summit in December 1989 that the U.S. would not take advantage (“I have not jumped up and down on the Berlin Wall”) of the revolutions in Eastern Europe to harm Soviet interests.

As early as 1997, Biden acknowledged that expansion into Eastern Europe would provoke a ‘vigorous and hostile reaction’ from Russia. It seems that since then, NATO has been pretending not to understand this.

U.S. Secretary of State James Baker’s famous “not one inch eastward” assurance about NATO expansion in his meeting with Soviet leader Mikhail Gorbachev on February 9, 1990, was part of a cascade of assurances about Soviet security given by Western leaders to Gorbachev and other Soviet officials throughout the process of German unification in 1990 and on into 1991, according to declassified U.S., Soviet, German, British and French documents posted by the National Security Archive at George Washington University.

The documents show that multiple national leaders were considering and rejecting Central and Eastern European membership in NATO as of early 1990 and through 1991, that discussions of NATO in the context of German unification negotiations in 1990 were not at all narrowly limited to the status of East German territory, and that subsequent Soviet and Russian complaints about being misled about NATO expansion were founded in written contemporaneous memcons and telcons at the highest levels.

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