US Treasury Secretary Yellen pushes Russia toward default: ‘Renewal of license for offshore payments unlikely’

It is “unlikely” to be a file The license that allowed Russia to continue to honor its payments of dollar debt. The US Treasury Secretary said today Janet Yellen He supported the rumors that were leaked yesterday, adding that “no final decision has been taken” in any way. The US government would be willing to halt payments related to Russian bonds to US investors, not renew the temporary exemption that is expiring. Next May 25th So you pay Moscow towards forced default. The odds of Russia defaulting on its debt rose yesterday, after it was spotted by the rates of credit default swaps that allow investors to insure against the possibility. at 90% of 77%. However, the Russian stock exchange and the ruble were not affected, and both are strengthening.

Russia has so far been able, albeit with difficulty, to meet its credit obligations despite the freezing of accounts abroad and the prevention of money transfers. Russia collects an average of 1 billion euros and dollars per day for the sale of hydrocarbons, but it cannot then transfer these sums. Moscow declared that, in view of its ability and willingness to pay, in the event of a forced embargo on payments, it would raise the question. before the courts. US rating agencies Standard & Poor’s, Moody’s and Fitch He explained that paying the coupon and bonds in rubles instead of dollars would actually constitute a default. The issue is controversial Also because some US Treasury officials have argued that allowing Russia to pay its debts would reduce the funds available to the Kremlin to fund military operations in Ukraine.

See also  The main island of Tonga has been closed for the first case since the beginning of the epidemic

Let’s keep working together
The battles we believe in!

Supporting means allowing us to continue publishing an online newspaper full of news and insights, available to everyone.
But also being an active part of the community and doing your part with ideas, testimonials and sharing.

Peter Gomez

Support us now

Available payments

Harold Manning

"Infuriatingly humble social media ninja. Devoted travel junkie. Student. Avid internet lover."

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button