Russia rushed forward two payments on its international debt on Friday in its latest attempt to stave off a default that has looked on cards since its invasion of Ukraine.
Russia, which has retaliated with some countermeasures of its own, has been able to keep paying until now because of a special licence from the U.S. Treasury, which allows international bond holders to receive these kinds of payments. The country’s $40 billion of international bonds, around half of which are held by foreign investors, have emerged as a flashpoint in recent months.
JPMorgan, which previously acted as a correspondent bank on such payments, did not immediately respond to a request for comment. The U.S. Treasury declined to comment.
Russia cannot join the 21st century with Putin in charge.
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