Russia and Belarus will not be able to use IMF loans to obtain US dollars, - Biden
Biden banned the US Treasury from accepting special borrowing rights from Russia and Belarus in exchange for dollars.
This was reported in the White House, Censor.NET informs.
"On Monday, October 4, the president signed Decree No. 6899 "The draft law on the prohibition of the exchange of special borrowing rights for Russia and Belarus", by which he prohibited the Minister of Finance from participating in operations of the exchange of special borrowing rights belonging to Russia and Belarus," the document states.
The law will be valid for five years after its adoption. Also, its effect may end early if the US president confirms to Congress that Russia and Belarus have "ceased destabilizing activities regarding the sovereignty and territorial integrity of Ukraine."
Special drawing rights are a means of payment issued by the International Monetary Fund. It is subject to exchange for freely convertible currencies.
