The US Treasury Department confirmed on March 13, local time, that the license to allow energy transactions with Russian financial institutions expires on the 12th EST as planned. According to reports, the Biden administration authorized the license to settle the remaining transactions on January 10, while prohibiting energy financing transactions with Russian banks including Sberbank and Russian Foreign Trade Bank.

The US Treasury Department confirmed on March 13, local time, that the license to allow energy transactions with Russian financial institutions expires on the 12th EST as planned. According to reports, the Biden administration authorized the license to settle the remaining transactions on January 10, while prohibiting energy financing transactions with Russian banks including Sberbank and Russian Foreign Trade Bank.