The US Treasury refused to renew the license allowing Russia to service its external debt

The US Treasury Department has announced that it will not renew a license that allows Russia to make payments to service its foreign debt. This is stated in the notice on the department's website.

The license will expire on May 25 at 07:01 Moscow time. Without this permission, the Russian Federation will not be able to pay off government bonds and may be on the verge of default.

The next mandatory payment in foreign currency awaits Russia on May 27. The Ministry of Finance fulfilled its obligations under it in advance , on May 20. The next payments are scheduled for June 23-24. If they fail to carry out, a formal default may await Russia at the end of July - after the expiration of the 30-day grace period, notes The Bell.

Corrected. Earlier in this article, citing The Bell , it was reported that the default could occur as early as this week. We apologize to readers.

• about US plans to block payments of Russia's public debt after May 25 Earlier, Bloomberg sources reported .
• In early May, the Russian Federation managed to avoid a default on its external debt in foreign currency by making payments in dollars on two issues of sovereign Eurobonds, the maturity of which ended on April 4.
• Prior to this, Russia tried to make payments on loans in rubles, but Moody's said that this was a change in the terms of the bond issue and could be considered a default.