“OFAC will not renew the provisions of the GL-9C General License, which expires on May 25, 2022 at 00:01 ET”, - the US Treasury Department said in a statement.
The license termination will prevent Russia from servicing sovereign debt starting May 25. At the same time, the next payment on Eurobonds is due on May 27, according to RIA Novosti.
Western media reported last month about a possible technical default of the Russian Federation on debt obligations. Then it was due to sanctions - foreign banks refused to fulfill foreign exchange orders for sovereign Eurobonds. The Russian authorities declared their readiness to make payments in rubles. The Ministry of Finance of the Russian Federation accused Western countries of obstructing the servicing of the country's public debt. Moscow is ready to prove in courts that it has done everything possible to fulfill its obligations in a timely manner, said the head of the department, Anton Siluanov.