Home » Economy » Russia barrels closer to debt default as US prepares to block bond payments
Russia barrels closer to debt default as US prepares to block bond payments
France dependency on Russian gas ‘much lower’ than any other country: France ambassador for international investments
France Ambassador for International Investment Pascal Cagni discusses energy independence in his country.
The Biden administration is planning to block Russian bond payments to American investors, a move that could push Moscow closer than ever to a historic debt default.
Russia has so far managed to pay its foreign debt obligations, despite a raft of financial sanctions from the U.S. and its European allies over Moscow's invasion of Ukraine.
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That could change as the Treasury Department's Office of Foreign Assets Control reportedly considers letting a temporary exemption that allowed Russia to keep paying its debts lapse. The waiver, which expires on May 25, gave Moscow room to pay coupons, helping it to avoid a historic default, according to Bloomberg, which first reported the news.