The United States and its European allies are actively working to expand sanctions against russia so that the aggressor country will have to choose between defaulting and using its remaining foreign currency reserves.
This was announced by White House press secretary Jen Psaki, reports «Voice of America».
“The goal is to get them to make a choice,” - she answered the question of whether the US goal is a default in russia.
Psaki stated that russia will have to choose between defaulting and depleting its remaining U.S. dollar reserves.
Earlier, U.S. Treasury Department cut off russia's access to the Western frozen funds under sanctions to provide bond sovereign payments.
On Monday, April 4, russia was due to pay 636m dollars in bonds. Russia paid for the Eurobonds in rubles. This could mean a technical default.
We remind that according to Fitch, the russian economy will be reduced by 8% in 2022 as a result of the war against Ukraine. In comparison, the 1998 default cost the country a 5.4% reduction in GDP.
On March 9, Fitch downgraded russia's credit rating to pre-default. Last December, Fitch did not believe in a military confrontation between russia and Ukraine.
According to analysts of the American financial corporation Morgan Stanle, russia risks losing its solvency in the coming months. They predict russia Venezuela-style default in April.
Earlier, JPMorgan analysts also warned that sanctions for the military invasion of Ukraine could lead russia into default.