US Treasury gives green light to Russian default insurance payouts

The US Treasury Department issued two general licenses on Friday authorizing certain transactions related to Russia sanctions.

One license authorizes transactions related to the settlement of credit derivative transactions that reference Russia, according to a notice posted on Treasury's website.

The license authorizes financial institutions to facilitate and clear such transactions, examples of which include the delivery of debt obligations of Russia, the notice said.

A separate license authorizes, through 19 October, wind-down transactions involving securities issued by Russia-based entities under agreements that were entered into before June 6.