The European Union is considering proposing to the Russian Agricultural Bank to create a subsidiary to regain access to the SWIFT payment system and safeguard the Black Sea grain deal, the Financial Times reported on Monday.
The Kremlin said on Monday it was “pessimistic” about renewing the agreement because there has been no progress on its demands, in particular the reintegration of the Rosselkhozbank agricultural bank into the SWIFT system. The European Commission did not comment on this FT information, and the Kremlin said it had nothing to announce on the deal.
“Facilitate the agreement on cereals”
The plan, proposed as part of UN-brokered talks, would allow Banco Agrícola’s banking subsidiary to handle payments related to grain exports, the newspaper said, citing unnamed sources. The EU wants to “somehow facilitate the grain deal,” said Ambassador Extraordinary of the Ukrainian Foreign Ministry Olha Trofimtseva in response to the FT article.
In addition to the reintegration of SWIFT service, Russia wants the resumption of deliveries of agricultural machinery and spare parts, as well as the lifting of restrictions on insurance and reinsurance.
Source: BFM TV
