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U.S. bars Russia from paying bondholders through American banks, increasing default risk

U.S. bars Russia from paying bondholders through American banks, increasing default risk

The Kremlin towers and Ivan the Great Cathedral in Moscow.

Kirill Kudryavtsev | Afp | Getty Images

The Biden administration will ban Russia’s government from paying bondholders through American banks starting Wednesday morning,

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The move increases the odds that Russia will default on its outstanding debt.

It is the latest sanction against that country by the United States in response to Russia’s invasion of…

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