US closes loophole for Russian debt payments

Posted on AllSides May 26th, 2022
From The Center
World, Russia, Economic Sanctions, Debt
EPA

The US is cutting off another financial route for Russia to pay its international debts, a move that could push the country closer to default.

The US Treasury Department said it would end a waiver that had allowed US bondholders to accept payments, tightening sanctions imposed over the war in Ukraine.

Russia, which is rich from its oil and gas supplies, has the funds to pay.

It has already signalled plans to contest any declaration of default.

The country has almost $2 billion worth of payments that will be due...

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