Russia Edges Closer to Default as US Lets Key Waiver Expire
- Carveout allowing payments to Americans will end at midnight
- US seeks to raise pressure on Moscow over war in Ukraine
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Russia has been pushed closer to a potential default after the US Treasury Department let a key sanctions waiver benefitting American investors expire.
US banks and individuals are barred from accepting bond payments from Russia’s government since 12:01 a.m. New York time on Wednesday, when a license that had allowed the cash to flow ended.