US set to fully block Russia’s debt payments after May 25

The US authorities are ready to fully block Russia’s ability to pay U.S. bondholders after a deadline expires next, Bloomberg reported citing sources.

"The Treasury Department’s Office of Foreign Assets Control is expected to allow a general license that expires May 25 to lapse, according to people familiar with the matter," the agency says.

The waiver, issued shortly after the US levied sanctions on Russia due to its special military operation in Ukraine in February, has given Moscow room to keep paying investors, helping it avert default on its government debt.

One of the sources told Bloomberg that the US Treasury has not yet made a final decision.

On May 10, head of the US Treasury Janet Yellen said that her agency was analyzing the consequences and side effects of possible moves that would result in Russia being banned from making payments to service part of its national debt.

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