White House expects minimal impact on U.S. and global economy from Russia default

The White House said on Thursday it expects minimal impact on the U.S. and global economy from a Russia debt default. "We expect the impact on the U.S. and the global economy to be minimal, given Russia has already been isolated financially," White House spokesperson Karine Jean-Pierre said in a press briefing on Thursday.

The United States pushed Russia closer to the brink of a historic debt default on Wednesday by not extending its license to pay bondholders, as Washington ramps up pressure following Russia's actions in Ukraine.

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