Get up to speed with what’s moving markets
Farah Elbahrawy
Good morning. Treasury stops Russia from paying debt through its U.S. accounts, the Pentagon will send Switchblade drones to Ukraine, Musk’s Twitter intentions and more commodity-market ructions. Here’s what people are talking about.
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.
