Alan Rappeport and Eshe Nelson
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U.S. Will Start Blocking Russia’s Bond Payments to American Investors
The Biden administration’s escalation of sanctions could lead to Russia’s first default on foreign debt in a century.
U.S. blocks Russia’s access to dollars for bond payments, heightening risk of default.
On Monday, when more than half a billion dollars in bond payments were due, the U.S. Treasury tightened its restrictions on Russian financial transactions.