US Treasury Department won’t extend the General Licence 9A,tha | RussiaGate #Digest

US Treasury Department won’t extend the General Licence 9A,that has allowed the Russian state and its companies to make debt service payment in dollars to international investors.

This could result in a cascade of defaults in Russia.

Russian entities managed to make their international payments so far. The situation has been getting worse as banks have been shying away any Russian transactions (even legal) because of sanctions.

Russia has enough money to meet its obligations, but is being pushed to a default which will damage its future on capital markets.