Finance

The Biden administration imposed a series of new sanctions on Russia yesterday, including restrictions on buying new sovereign debt,

Friday, April 16, 2021

the White House has reported. The measures come in retaliation for the SolarWinds hack and efforts to disrupt the 2020 U.S. election. Effective June 14, US financial institutions are barred from buying new debt issued by the Russian Central Bank, Finance Ministry and sovereign wealth fund. International investors now hold approximately 20% of Russia’s ruble denominated debt, an estimated $37 billion. US investors can still buy the bonds on the secondary market.

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Timothy Ash, the Senior Emerging Markets Sovereign Strategist for Bluebay Asset Management, writes from London:

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The escalating military standoff with Russia is cutting foreign demand for domestic government bonds,

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