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US unlikely to extend Russia’s debt-payment license, increasing risk of default.

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U.S. Treasury Secretary Janet Yellen confirmed on May 18 that the license, which expires on May 25 and allows payments to U.S. bondholders, is unlikely to be extended for Russia. Yellen added that the move won't significantly change the situation in Russia, as “they're already cut off from global capital markets.” Currently, Russia has $40 billion in international bonds.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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