US Treasury Secretary Janet Yellen says it is unlikely Washington will extend a license that allows Russia to pay US bondholders.
The move could force Moscow to default on its debt.

The US Treasury Secretary said, "I think it's reasonably likely that the license will be allowed to expire. There's not been a final decision on that, but I think it's unlikely that it would continue."

The license allows Russia to continue making payments on its dollar-denominated debt as an exemption to US sanctions. But it is set to expire on May 25.

Russia would be considered in default if the country is unable to make payments after that date.
But Yellen said this would not represent a major change in Russia's financial situation, as the country has already been cut off from global capital markets.
She also said Washington planned to discuss imposing hefty tariffs on Russian oil with the EU as an additional measure.