Copyright © 2024 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Russia threatens to end grain deal unless Rosselkhozbank is reconnected to SWIFT

vessel ukraine grain initiative depart odesa port
A vessel with Ukrainian grain departs the Port of Odesa. Illustrative image via X/Twitter
Russia threatens to end grain deal unless Rosselkhozbank is reconnected to SWIFT
UN Secretary-General Antonio Guterres’s proposal of Russia Rosselkhozbank’s reconnection to the SWIFT international payment system came in response to Russia’s threat to terminate the grain deal.

UN Secretary-General Antonio Guterres offered Putin to extend the grain deal in exchange for connecting “Rosselkhozbank” to the SWIFT international payment system, which the European Union cut off in June 2022 due to Russia’s invasion of Ukraine, Reuters reports.

The UN- and Türkiye-brokered “grain deal” was signed last year to export Ukrainian grain in order help mitigate the global food crisis amid Russia’s sea blockade of Ukrainian waters.

According to Reuters, Russia has once again threatened to terminate the deal, which expires on 17 July. Russia claims that “several requirements for shipping its grain and fertilizers abroad have not been met.”

Instead, Moscow demands reconnecting the Russian agricultural bank Rosselkhozbank to the SWIFT international payment network. The European Union disconnected it in June 2022 due to Russia’s invasion of Ukraine.

“An EU spokesperson said in May that the EU is not considering restoring Russian banks to SWIFT,” the agency wrote.

However, the EU is considering connecting a subsidiary of Rosselkhozbank to SWIFT to allow transactions with grain and fertilizers, three sources familiar with the situation said.

“On Tuesday [11 July], Guterres sent a letter to Putin suggesting ways to further promote Russian food and fertilizer exports and ensure continuous supplies of Ukrainian grain,” UN Secretary-General Stephane Dujarric said to Reuters.

Read also:

Russia blocking Ukraine’s maritime grain exports again – Infrastructure Ministry

UK’s new sanctions target Russia’s theft of Ukrainian grain, advanced mil tech, key revenue sources

 

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here



    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts