The US Treasury Department will not renew the general license, which temporarily allowed Russia to make payments to service its foreign debt in dollars under sanctions ,
KYIV. UkraineGate , 25 , May , 2022 | Economy .
Quote
“The Office for the Control of Foreign Assets will not renew the provisions of General License 9C, issued in accordance with the Regulations on Sanctions for Russia’s Malicious Foreign Activities,” the statement said.
Details
The license will expire on Wednesday, May 25, at 07:01 Kyiv time.
This will completely deprive Russia of the opportunity to pay for government bonds and make default almost inevitable.
Before
US Treasury Secretary Janet Ellen has made it clear that the United States will revoke a permit that allowed Russia to continue paying its debts and avoid default.
Source: Ukrgate