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Washington nudges Moscow toward default ...News
The US Treasury is stopping Russia from paying its debts through American bank accounts The US authorities have stopped the Russian government from paying holders of its sovereign debt more than $600 million from reserves frozen in American bank accounts. “Russia must choose between draining remaining valuable dollar reserves or new revenue coming in, or default,” a US Treasury spokesperson said on Monday as the largest of the payments came due, including a $552.4 million principal payment on a maturing bond. An $84 million coupon payment was due on the same day on a 2042 sovereign dollar bond. JPMorgan, which had
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