April 9, 2018 / 8:31 AM / a year ago

Russia CDS rise to near 4-mth high after new U.S. sanctions-IHS Markit

LONDON, April 9 (Reuters) - The cost of insuring exposure to Russian debt rose on Monday to the highest since mid-December after fresh sanctions by the United States targeting Russian companies and their owners.

Russian five-year credit default swaps (CDS) rose six basis points (bps) from Friday’s close to 127 bps, according to IHS Markit data, after the U.S. imposed major sanctions to punish Moscow for its alleged meddling in the 2016 U.S. election and other “malign activity.”

The CDS are up around 25 bps since mid-March.

Reporting by Claire Milhench

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