“Grain negotiations”: russia is trying to lift sanctions on the state bank

Russian federation is trying to negotiate with Western countries to exempt the state bank from sanctions. Such a request was voiced during the negotiations on the “grain agreement”.

Russia wants the West to ease restrictions on state agricultural lender Rosselkhozbank to help export russian grain. The relevant request was voiced by the party during the negotiations on the extension of the agreement on the supply of food from Ukraine, writes Reuters.

The request refers to the permission of Rosselkhozbank to restore its relations with correspondent banks. This would allow processing payments for Russian grain and other food products. Before the latest sanctions, such payments were handled by international banks and subsidiaries of other russian banks in Switzerland.

As the russian side assures, the sanctions make it difficult for Russian grain and fertilizer traders to process payments and access ships, insurance and ports, although food is not directly subject to the sanctions.