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Russia Edges Closer to Default as US Lets Key Waiver Expire

  • Carveout allowing payments to Americans will end at midnight
  • US seeks to raise pressure on Moscow over war in Ukraine
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WATCH: Russia is edging closer to a potential default.Source: Bloomberg
Updated on

Russia has been pushed closer to a potential default after the US Treasury Department let a key sanctions waiver benefitting American investors expire. 

US banks and individuals are barred from accepting bond payments from Russia’s government since 12:01 a.m. New York time on Wednesday, when a license that had allowed the cash to flow ended.