Reuters learned about the US ban on servicing Russia's debt from American accounts

The US Treasury will ban Russia from Monday making any payments on its dollar-denominated debt from accounts at US financial institutions, a spokesman for the US Treasury told REUTERS.

"Today is the deadline for Russia to make another payment on the debt," a US Treasury official said. “ Russia must choose between depleting its remaining DOLLAR reserves, generating new revenue, or defaulting.”

An agency source familiar with the situation added that Russia's latest coupon payments on sovereign bonds were halted without permission from the US Treasury to be processed by JPMorgan's correspondent bank. The payments were for bonds maturing in 2022 and 2042, Reuters writes. The interlocutor of the agency said that Russia has 30 days to make the payment.