Such a decision by the US Treasury threatens Russia to have a default, which could take place by the end of July.
The U.S. Treasury Department has said it will not renew a license that allows Russia to pay for foreign debt repayment. This was announced on Tuesday, May 24, by the department’s press service.
Thus, the license will expire on May 25. Without this permission, Russia will not be able to pay its government bonds and may be on the brink of default.
The next mandatory payment in foreign currency awaits in Russia on May 27. According to RosSMI, the Ministry of Finance fulfilled its obligations under it in advance, on May 20. The next payments are scheduled for June 23-24. If they fail, a formal default in Russia could wait until the end of July-after the 30-day grace period expires.
Earlier it was reported that in May Russia managed to avoid a default. Investors receive dollar payments from Russia the day before the expiration date
Biden on war in Ukraine: Russia must pay ‘long -term price’
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.