The United States Department of Treasury announces that it will not renew the sanctions exemption which permits Russia to service its sovereign debt to American investors. Allowing the exemption to expire increases the likelihood that Russia will default on that debt this summer.
The United States Department of Treasury will allow the special exemption for the transfer of Russian funds aimed to service Russia's sovereign debt to American customers or financial intermediaries expire, thereby increasing the likelihood of a default.
The United States Department of Treasury announcesthatitwill notrenew the sanctions exemption whichpermits Russia to service its sovereign debt to American investors.Allowing the exemption toexpire increases the likelihood thatRussia willdefaultonthatdebtthissummer.
