WASHINGTON, June 7 — The US Treasury Department has advised US money managers that Washington’s sanctions on Moscow bar any secondary market purchases of debt or stocks belonging to Russia’s government and firms, not just newly issued, further tightening curbs on the country following its invasion of Ukraine.
“Consistent with our goal to deny Russia the financial resources it needs to continue its brutal war against Ukraine, Treasury has made clear that US persons are prohibited from making new investments in the success of Russia, including through purchases on the secondary market,” a Treasury spokesperson said.
Analysts at Morgan Stanley have estimated that the amount of Russian government and corporate debt on international markets added up to just over US$472 billion at the start of the year, making it one of the largest in terms of size in emerging markets behind the likes of Mexico, Indonesia and Turkey.
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