U.S. Treasury set to push Russia closer to default
Written by Black Hot Fire Network on May 24, 2022
The U.S. Treasury Department is expected to tighten sanctions this week on Russia, threatening about $1 billion owed to bondholders for the rest of this year and putting the country once again on the edge of default.
Treasury Secretary Janet Yellen said last week she’s unlikely to extend an exemption expiring Wednesday that allows Russia to make payments on its foreign-currency bonds to U.S. investors. That decision will close all loopholes allowing any such transactions, according to a person familiar with the matter.
So far, the world’s biggest energy exporter . . .
