Russia Nears Default as US Lets Sanctions Waiver Expire

The US Treasury Department allowed a key sanctions waiver to expire, affecting American investors and pushing Russia closer to default. This waiver had previously enabled US banks to process dollar-denominated bond payments from Russia. With its expiration, Russia faces challenges in servicing its debt, particularly to US holders. Despite this, the ruble remains strong due to Russia's trade surplus from commodity sales. In response, Russia's central bank is holding an emergency meeting to address the strong ruble, with potential measures including a rate cut.

What potential impact could the sanctions have on American investors?

What measures did Russia consider in response to the strong ruble?