"OFAC [The Office of Foreign Assets Control] will not renew the provisions of GL-9C issued pursuant to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587, that expire on May 25, 2022 at 12:01 a.m. EDT [5:01 a.m. GMT]," the Treasury said in a press release.
On May 27, Russia is due to pay its Eurobonds.
Russian President Vladimir Putin said earlier that the policy of containment and weakening of Russia is a long-term strategy of the West, and the sanctions dealt a serious blow to the entire world economy.
According to the president, the main goal of the West is to worsen the lives of millions of people. He added that current events draw a line under the global dominance of the West in both politics and economics.
Putin expressed an opinion that Russia is not going to isolate itself, and it cannot be strictly isolated in the modern world.