StoreKit 2: Transaction.updates don't emits refunds at app launch

If an in-app purchase is made when my app is not running, the next time the app launches Transaction.updates will emits a transaction for the purchase. That's great.

But if an in-app purchase is refunded when my app is not running, the next time the app launches Transaction.updates will NOT emits a transaction for the refund. Is that the expected behaviour?

If yes, in order to check for refunds at app launch, are we supposed to cycle trough Transaction.all and search for them?

Thank you