GENERICO.ruEconomicsMedia: EU considers connecting Rosselkhozbank's subsidiary to SWIFT

Media: EU considers connecting Rosselkhozbank's subsidiary to SWIFT

MOSCOW, July 3 In order to save the grain deal, the EU may allow Rosselkhozbank to create a subsidiary that will be connected to SWIFT, the Financial Times writes, citing sources familiar with the discussions.
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“The plan that was proposed by Moscow <…> will allow Rosselkhozbank to create a subsidiary to process payments related to grain exports. <…> The new organization will be allowed to use the SWIFT global financial messaging system, which was closed to the largest Russian banks,” the publication says.

According to sources, this option to keep the grain deal is perceived by its supporters as “the least of the worst.” The publication emphasizes that the EU has struggled to agree on measures to ease sanctions on specific Russian companies or allow them to export certain goods to third world countries.

Sources say EU officials are evaluating how legal and feasible the proposal is.

Last week, a source familiar with the negotiations said that the likelihood of Russia withdrawing from the grain deal remains high. agreement.
Presidential press secretary Dmitry Peskov said on June 21 that there are no prerequisites for its extension, since obligations towards Russia are not being fulfilled.
The agreements concluded in July 2022 provide for the export of Ukrainian agricultural products via the Black Sea . The second part, the Russia-UN memorandum, designed for three years, provides for the unblocking of Russian exports of food and fertilizers, among the main tasks was the reconnection of the Rosselkhozbank to SWIFT, the resumption of supplies of agricultural machinery, spare parts and services, and the restoration of the operation of the Togliatti-Odessa ammonia pipeline.

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