EU may allow Rosselkhozbank to create a “daughter” to extend the grain deal – Kommersant


The European Union is considering a Russian proposal to allow the sub-sanctioned Rosselkhozbank to create a “daughter” that can be connected to the SWIFT international transfer system to pay for grain exports. The newspaper reported Financial Times (FT) citing sources.

According to the FT, Russia proposed such a plan in negotiations mediated by the UN. According to the publication’s sources, this proposal was seen as the “least worst” for extending the grain deal. At the moment, the EU is assessing how legal and feasible it is, writes FT.

In May, Russia extended the grain deal concluded in the summer of 2022 with Ukraine with the participation of the UN and Turkey. The agreement is valid until July 17. To further extend the deal Russia requires reconnect Rosselkhozbank to the SWIFT international payment system. The Kremlin said that they see no prerequisites for extending the deal.

About the grain deal – in the material “Kommersant” “Wheat floats on”.

Olesya Pavlenko

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