or going into default.

 

Pressure on Putin

The U.S. Treasury has halted dollar debt payments from Russian government accounts at U.S. banks, increasing pressure on Moscow to find alternative funding sources to pay bond investors. The move is designed to force Russia into choosing among three unappealing options -- draining dollar reserves held in its own country, spending new revenue, or going into default. The move is intended to further ratchet up pressure on Russian President Vladimir Putin to end his invasion of Ukraine.