Bloomberg reported that the United States plans to close the license to service the public debt of the Russian Federation.
Most likely, as Treasury Secretary Janet Yellen says, after May 25, the license that allows servicing Russia’s sovereign debt under sanctions will not be extended. At a press conference in Bonn, according to the agency, Yellen said:
“A final decision has not yet been made, but it would be reasonable to assume that the license will expire.”
On May 25, the OFAC license dated March 2, 2022, which allows the transactions necessary to receive payments on Russian securities, expires. And two days after this date, on May 27, Russia must pay off two issues of Eurobonds.
According to sources Bloomberg, some officials of the US Department of the Treasury (OFAC is part of its structure) offered to extend the license – for further payment of debts by Russia, in accordance with which the Russian Federation would spend the currency entering the country. But the priority is still the tough scenario that the administration of President Joe Biden is leaning towards.
Representatives of the White House and the US Treasury declined to comment, writes Interfax, and one Bloomberg source says the decision is still under discussion and has not yet been made.
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