The US said that a possible default of the Russian Federation will have little effect on the global economy

If Russia defaults, it will have minimal impact on the US and global economy, said new White House press secretary Karine Jean-Pierre (pictured). Before that, Washington did not renew the license under which the Russian Federation serviced the public debt.

“We expect the impact on the US and global economy to be minimal given that Russia is already in a state of financial isolation,” a White House spokeswoman said.

The United States Department of the Treasury will continue to monitor developments in the situation.

Recall that the lack of a license makes it impossible to service external sovereign debt in dollars, and in the United States and in other currencies. The Russian side called this an infringement of the rights of foreign investors who invested in Russian debt instruments.

On Wednesday, the Russian Ministry of Finance indicated that the country would continue to fulfill state debt obligations, but would switch to settlements in rubles with the possibility of subsequent conversion. The department emphasized the readiness and intention to repay debt obligations to foreign investors. According to Minister Anton Siluanov, the current situation is of artificial origin, and is not similar to the one that was observed before the default in 1998.