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US unlikely to extend Russia’s debt-payment license, increasing risk of default.
May 18, 2022 8:03 PM 1 min read
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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.
The Kyiv Independent news desk
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