Yellen confirms US unlikely to allow Russian bond payments
Treasury Secretary Janet Yellen confirmed it’s unlikely the US would allow Russia to make bond payments on its foreign-currency debt, as investors have had time to adjust to Moscow’s exclusion from the global financial system
By Yashasvini Razdan
Published - May 18, 2022, 09:07 PM ET
Last Updated - Feb 28, 2024, 08:03 AM EST
• Russia has been unable to access its foreign reserves totaling about $315 billion
Treasury Secretary Janet Yellen confirmed it’s unlikely the US would allow Russia to make bond payments on its foreign-currency debt, as investors have had time to adjust to Moscow’s exclusion from the global financial system.
Speaking at a press conference in Germany, Yellen said it is “reasonably likely” to expect the license will be allowed to expire on May 25.
