June 14, 2022 | Daily Business Review
Pimco Warned Treasury That Russia Sanctions Will Hit PensionsPacific Investment Management Co. executives made the point to the U.S. Treasury that a Russian default would allow President Vladimir Putin to keep foreign currency reserves that would have otherwise been paid to creditors, giving him more money for his war efforts.
By Laura Benitez and Loukia Gyftopoulou
3 minute read
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