US Halts Russian Bond Payments, Sparking Default Risk

US Halts Russian Bond Payments, Sparking Default Risk

US Halts Russian Bond Payments, Sparking Default Risk

By RT News

The US Treasury cut Moscow’s access to US dollar funds to service sovereign debt coupons on Monday, blocking over $600mn of payments due in maturing bonds.

JPMorgan had been handling Russia’s dollar bond payments, but a source reportedly close to the matter claims they have been blocked from continuing the service leaving Moscow a 30-day grace period to find alternative dollar resources.

The move comes as Washington and the EU consider imposing further sanctions this week, and could spark default if payments are made late, or not in the currency specified.

Original Source

Get London Times Updates

Donate Now to Help Take Back Our World

$1000 Donation Turns Into $3000 of the New Global Currency

Enter Email to get Daily News