BREAKING NEWS

Bond default would add to Russia's economic pain -US Treasury official

A default on Russia's sovereign debt would add further pain to Russia's economy and financial system, making it harder for Moscow to find new lending sources and raising future borrowing costs, a US Treasury official said on Monday.

The official told Reuters the Treasury believes there are limited direct exposures in the US financial system to Russian sovereign bonds and the main impact would fall on a Russian economy already reeling under the weight of US sanctions.

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