US likely to allow license on Russian debt payments to expire after May 25: Yellen

The United States is "reasonably likely" to allow the license permitting Russian sovereign debt payments to expire after May 25, Treasury Secretary Janet Yellen said on Wednesday.


ANI | Washington DC | Updated: 18-05-2022 22:19 IST | Created: 18-05-2022 22:19 IST
US likely to allow license on Russian debt payments to expire after May 25: Yellen
US Treasury Secretary Janet Yellen (Photo Credit - Reuters). Image Credit: ANI
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Washington [US], May 18 (ANI/Sputnik): The United States is "reasonably likely" to allow the license permitting Russian sovereign debt payments to expire after May 25, Treasury Secretary Janet Yellen said on Wednesday. "When we first imposed sanctions on Russia, we created an exemption that would allow a period of time for an orderly transition to take place, and for investors to be able to sell a security. I think it is reasonably likely that the license will be allowed to expire," Yellen told reporters.

The US administration has not made the final decision yet, she added. The secretary reiterated that it is unlikely that the exemption would continue. Yellen also expressed confidence that possible technical default will not change the situation for Russia, as the country has already been cut off from global markets.

"If Russia is unable to find a legal way to make these payments and they technically default on their debt, I do not think that really represents a significant change in Russia's situation. They are already cut off from global capital markets, and that would continue," she said. (ANI/Sputnik)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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