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00:00The Biden administration is set to bring Russia closer to the brink of default. Bloomberg's learned the Treasury Department will move to fully block Moscow's ability to pay U.S. bondholders as soon as next week in record turn. Bloomberg Washington correspondent joins us now from D.C.. Anne-Marie so much digest here. Give us the latest from the capital. What's the Bloomberg scoop. And if Treasury does go ahead and really not allow this a waiver to continue and allow it to lapse and brings Russia potentially closer in this debt saga to actually defaulting on its debt. Now there is someone the Treasury who says they haven't yet made a final decision. There was a lot of debate about whether or not you continue allow Russia to draw down their money and allow these debt payments. But obviously also if you push them into default that is going to be catastrophic for the Russian economy. The finance minister over in Russia though maintains that they could still pay off their debt their debts but by doing so using rubles. So there does seem to be a little bit of question marks. What counts of default because someone is willing to pay. But they are unable to. But what we do know is that the Treasury is expected to really let this temporary exemption lapse this carve out. And that means that it's going to be much more complicated for Russia when it comes to paying their debts.

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US Poised to Fully Block Russian Debt Payments

The Biden administration is set to fully block Russian bond payments to US investors in a move that could force Moscow into its first foreign default in a century. Annmarie Hordern has the details on Bloomberg Television. (Source: Bloomberg)

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