The decision to stop bond payments will further deplete the resources Putin is using to continue his war against Ukraine, a Treasury official said.
The debt is owed to foreign investors, among others, and comes from government investments to presumably spur economic growth in Russia.
While the ruble has bounced back from the fall it took after the U.S. and European allies moved to bury the Russian economy, Putin has resorted to extreme financial measures to blunt the West’s penalties and inflate his currency. The decision to limit bond payments will further deplete the resources Putin is using to continue his war against Ukraine and will cause more uncertainty and challenges for Russia’s financial system, the Treasury official said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury bars Russia payments in dollars from US accountsWASHINGTON (AP) — The Treasury Department will not allow any Russian government debt payments from accounts at U.S. financial institutions to be made in U.S. dollars, restricting one of the s…
Read more »
Treasury bars Russia payments in dollars from US accountsThe Treasury Department will not allow any Russian government debt payments from accounts at U.S. financial institutions to be made in U.S. dollars, an agency official says.
Read more »
Ukraine accuses Russia of massacre, city strewn with bodiesAs foreign outrage mounts over evidence of possible executions and other atrocities by Russian forces in Ukraine, Germany's defense minister says Europe must consider stepping up penalties for Moscow by boycotting its gas exports, an economically painful step European leaders previously avoided.
Read more »
Ukraine accuses Russia of massacre, city strewn with bodiesAs foreign outrage mounts over evidence of possible executions and other atrocities by Russian forces in Ukraine, Germany's defense minister says Europe must consider stepping up penalties for Moscow by boycotting its gas exports, an economically painful step European leaders previously avoided.
Read more »
Ukraine accuses Russia of massacre, city strewn with bodiesAs foreign outrage mounts over evidence of possible executions and other atrocities by Russian forces in Ukraine, Germany's defense minister says Europe must consider stepping up penalties for Moscow by boycotting its gas exports, an economically painful step European leaders previously avoided.
Read more »
Russia Faces Growing Outrage Amid New Evidence of Atrocities in UkraineRussia faced a fresh wave of condemnation on Monday after evidence emerged of what appeared to be deliberate killings of civilians in Ukraine. Some Western leaders called for further sanctions in response to the alleged atrocities.
Read more »