Here is where politicizing the financial system is getting us. The United States Treasury stepped in and stopped a $600 million payment by Russia to bondholders for its debt.
The Treasury blocked Russia from using USD that is has sitting in US banks.
In this video I discuss how politicizing the financial system is asinine. We are seeing American holders of this debt suffering as Russia is pushed towards default.
We see the motive is to get Russia to spend its other USD that it has. This is in an effort to pry that out of MOscow's hands. So much for Russia trying to get out of the USD>
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