New Episode in the Russian Debt Saga – Putin’s Russia’s Default Seems Closer Than Ever.

But beware, Russia has not yet said its last word.

Could this finally be the last episode in the Russian debt saga?

In the middle of last week, the U.S. Treasury chose not to renew the waiver that allowed Vladimir Putin's government to continue to pay its American creditors in dollars, despite the sanctions, pushing Russia a little further towards default.

Since the middle of last week, American banks and…