The United States Treasury on Monday blocked Russia from making debt payments using dollars held at U.S. banks, a move that could force Russia to deplete its domestically held dollar reserves or even default on its loans, Reuters reported Tuesday.
According to Reuters, Russia had two payments due on Monday — "a $552.4 million principal payment on a maturing bond" and an "$84 million coupon payment ... on a 2042 sovereign dollar bond" — both of which were blocked by the Treasury.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Why Bhutan hopes tourists will put a smile back on its faceUnder The Radar The 'kingdom of happiness' is facing economic problems and unprecedented emigration
-
7 beautiful towns to visit in Switzerland during the holidaysThe Week Recommends Find bliss in these charming Swiss locales that blend the traditional with the modern
-
The Week contest: Werewolf billPuzzles and Quizzes
-
GOP's Mace seeks federal anti-trans bathroom banSpeed Read Rep. Nancy Mace of South Carolina has introduced legislation to ban transgender people from using federal facilities
-
Ukraine fires ATACMS, Russia ups hybrid warSpeed Read Ukraine shot U.S.-provided long-range missiles and Russia threatened retaliation
-
New York DA floats 4-year Trump sentencing freezeSpeed Read President-elect Donald Trump's sentencing is on hold, and his lawyers are pushing to dismiss the case while he's in office
-
Wyoming judge strikes down abortion, pill bansSpeed Read The judge said the laws — one of which was a first-in-the-nation prohibition on the use of medication to end pregnancy — violated the state's constitution
-
US sanctions Israeli West Bank settler groupSpeed Read The Biden administration has imposed sanctions on Amana, Israel's largest settlement development organization
-
Gaetz ethics report in limbo as sex allegations emergeSpeed Read A lawyer representing two women alleges that Matt Gaetz paid them for sex, and one witnessed him having sex with minor
-
Can Europe pick up the slack in Ukraine?Today's Big Question Trump's election raises questions about what's next in the war
-
Biden allows Ukraine to hit deep in RussiaSpeed Read The U.S. gave Ukraine the green light to use ATACMS missiles supplied by Washington, a decision influenced by Russia's escalation of the war with North Korean troops
